International Wheat Market Report as on 16th March 2017

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Wheat futures finished Wednesday 4 3/4 to 8 cents higher. MPLS was the strongest, up 5 3/4 to 8 cents in the nearby contracts. Both KC and CHI saw gains of 4 1/2 to 5 1/2 cents in their respective front months. There were reports that 10% to 15% of the SRW wheat crop in the US was affected by the cold temperatures in recent nights. It usually takes a week or two to verify the degree of damage. Analysts are expecting 250,000 to 450,000 MT of old crop and 25,000 to 200,000 MT of new crop wheat sold in the week ending March 9 and reported in tomorrow’s USDA export sales report.

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