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Wheat futures rose nearly 2% in US trade following data showing the US as the second-largest wheat exporter and amid dry weather in southern America. USDA reported wheat export sales of 297.2kt for the week ending April 19, above expectations.
The dollar index was flat on the session.
Dry weather in South America and solid US export demand support wheat prices. Higher wheat values raise costs for wheat-based feed ingredients.
economies.comRami HaddadApr 27, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Describes wheat gaining nearly 2% on strong export sales and dry weather, showing a rally with demand support just before the move, though it is dated April 27.
