Market Review 27th Nov 2017
Markets continue to erode, as US Wheat makes new contract lows late in the week. France AgriMer lower wheat export projections by 300tmt to 9.9mmt. Total EU wheat exports of 8.1mmt this season are still circa 22% below 2016/17.
Russian wheat exports of 15.6mmt from 1st July, up 25% on the year.
US wheat export sales were lower than expected, at just 199tmt (trade est. 350-550tmt). 3rd lowest of the marketing year to date.
US funds estimated net short 131k wheat, 24