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Wheat markets in Chicago, Kansas City and Minneapolis traded a little lower, with US export demand described as poor in weekly USDA reports. Saudi Arabia bought over 800,000 tons of optional-origin wheat, likely sourced from Russia, Europe or South America.
Rice was near unchanged with weak Asian prices.
The Saudi purchase signals solid world wheat demand that partly offsets weak US export sales. Price pressure is limited in the near term.
blog.pricegroup.comJack ScovilleDec 18, 2024blog.pricegroup.comJack ScovilleDec 20, 2024Not 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.
