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CBOT wheat futures extended their decline to six weeks, then rebounded on technical buying. Egypt bought 295,000 t of Russian wheat and 60,000 t from Ukraine, while US wheat was not offered because the price structure did not fit the world market.
India's wheat crop forecast was raised by 800,000 t to a record 98.38 million t.
A record Indian crop and ample Russian supply keep the global wheat balance loose. The technical rebound may be short-lived, which limits upside for feed wheat costs.
zmp.deAug 17, 2017Not 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.
