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Wheat Market Report
Fri 10 Feb 2012 14:48:00 CT
Related Keywords: Agriculture
Related Keywords: Agriculture
Wheat Market Recap Report
March Wheat finished down 16 at 630, 15 3/4 off the high and 1 3/4 up from the low. July Wheat closed down 19 1/2 at 648 1/2. This was 2 up from the low and 19 3/4 off the high. March wheat closed 16 cents lower on the session and fell 30 3/4 cents for the week. Bearish outside market forces with a surge up in the US dollar and weakness in the other commodity markets helped to pressure the market early. The set-back pushed the market down to the lowest level since January 24th before a bounce into the mid-session. Follow-through technical selling after the bearish USDA news yesterday added to the selling pressure. Record high world ending stocks and hefty soft red wheat stocks helped to pressure. Egypt announced a tender after the close. March Oats closed unchanged at 318. This was 6 up from the low and 2 off the high.
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