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A U.S. Wheat Associates board team visited millers in Lagos and South Africa, where consumers are shifting toward lower-cost flour products, pasta and instant noodles. Many Nigerians spend little on food each day, so mills are cutting costs.
The piece covers export market development rather than a new supply or price event.
Changing African demand for wheat products shapes long-term U.S. export prospects, but it has little immediate effect on prices.
uswheat.orgSep 17, 2018After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
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.
