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Wheat prices have risen sharply, prompting consumers and feed users to switch ingredients. Vietnam's mills are substituting rice for wheat on government request, and Thailand raised its corn import quota to 600,000 tonnes and cut duties to ease a tight feed market.
USDA cut its 2022/23 global wheat consumption forecast in July.
Substitution away from wheat into rice and corn in feed supports demand for those grains and reflects tight wheat supply, while Thailand's corn import expansion adds to global corn demand.
reuters.comNaveen ThukralAug 3, 2022Not enough comparable past events yet for a historical read.
Not 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.
