Alpari Grain Outlook 12/04

By International Business Times,  December 04, 2012, 06:26:14 PM EDT

Monday's 10 AM CST weekly export inspection report was released showing how much of each grain was asked to be inspected by the USDA for near-term export and becomes a gauge of demand. Wheat inspections were estimated at 14.1m.b., up from 8.1 last week and four week average of 10.7 . It's not the eye-popping 28 or 30m.b. the market needs to be bullish, but it's attracting attention after news over the weekend surfaced that big world buyer Egypt was in for 280 t.m.t. of US wheat on a 400 t.m.t. world purchase. The others involved in the exports were Romania and France at higher prices to the US. The importance of the Egyptian purchase was it's the first purchase of US wheat of any measurable size since the wheat marketing year began June 1.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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