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Alpari Grain Report 9/21

By International Business Times September 22, 2012, 05:55:04 AM EDT

Thursdays weekly export sales report, which is our primary weekly report on export sales and demand , came out much the same as we have seen the last six weeks, weak corn and wheat demand but friendly beans. Wheat exports remained weaker than the  trade has been expecting. Exports were 488,000 thousand metric tons, up 28% from the week prior, but well under the 800,000 metric tons plus needed to be bullish. There were no big world buyers for high-quality wheat on the list. Buyers were smaller  countries probably buying feed quality wheat not suitable for milling purposes which is  always smaller purchases. Unless the world buyers looking for milling wheat high enough in protein for human consumption enter the market, we can't expect weekly sales to rise to levels that would be price bullish for future. That could change the next 60 days if Australia, a major world producer exporter, stays dry and Russia ends wheat exports in October as talk around the market has them to do.

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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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