Wheat interest is on the rise, and may be supported by talk from a Russian trader who said they will be limiting Russian exports to 20 mmt after Jan. 31. Higher EU prices are also helping boost the U.S. wheat markets.
William Moore noted that the Friday reports were strong overall for the wheat market, as March wheat is close to testing its June highs. “In addition, the cool-down of the Iran incident would imply a resumption of the Iraqi wheat business, a welcome boon to exports.”
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