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Wheat futures finished mixed, with the December contract slightly higher and deferred contracts 1-3 cents lower, while corn and oilseeds were lower. Russian wheat exports are running ahead of expectations, but quality complaints from Indonesia and Vietnam and reported Turkish flour mill shutdowns could weaken demand.
The writer sees bullish potential in wheat more likely later in the first quarter of next year.
Strong Russian shipments keep global supply competitive, while softer importer demand limits near-term upside for wheat prices.
graincentral.comGuest AuthorOct 31, 2018Not 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.
