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Alpari Grain Outlook 03/05

Demand-side fundamental showed up with our weekly export inspections report Monday. Wheat, inspected by the USDA to be shipped near-term, came in at 23.9 million bushels versus 21.1 the week prior and a four week average at 22. The slight increase came from Egypt and China combining for 10 million bushels. There were rumors last week that China was looking for some wheat. It's a nice bump in demand but far short of the 28 needed weekly to be bullish. There are still competition issues. Saudi Arabia bought 465,000 metric tons over the weekend, but all from other foreign ports. India looks to unload 900,000 metric tons or more in March. This will keep demand from becoming a bullish price source for wheat.

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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 Nasdaq, Inc.


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

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