International Wheat Market Report 24th November 2017

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Wheat futures were mixed on Wednesday, with KC higher and CBT and MPLS lower in the front months. The USDA is expected to indicate 350,000-550,000 MT in all wheat export sales on Friday for the week ending Nov 16. The Bureau of Meteorology in Australia estimates a 70% chance of a La Nina pattern starting in December. That would most likely bring warmer and wetter summers to that country, giving much needed moisture to the area. It would not be a major factor for 2017 wheat, which is already being harvested.Dec 17 CBOT Wheat closed at $4.22 3/4, down 2 cents,Dec 17 KCBT Wheat closed at $4.21, up 3/4 cent,Dec 17 MGEX Wheat closed at $6.26 3/4, down 1/4 cent.

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