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CBOT December wheat fell to 485.5 cents a bushel, its lowest since January, on doubts that US exports can recover, then rallied after a Egyptian tender showed US wheat offered at the same FOB price as the cheapest Russian wheat. Australian cash wheat prices were reported well above CBOT-implied levels due to a poor local crop.
Competitive US wheat pricing into Middle East markets can shift export flows away from Russia, while tight Australian supply keeps domestic cash prices elevated.
theland.com.auMalcolm Bartholomaeus, Bartholomaeus ConsultingOct 29, 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.
