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Commodities Briefing - Categorized | Agriculture, Price Watch more

European wheat prices tick higher on weaker euro

Posted on 22 October 2008

From Dailytimes.com.pk: European wheat prices edged up on Tuesday as a weaker euro, brighter export outlook and a lower Australian crop forecast helped reverse lower US markets overnight which had stalled after two days of solid gains.

Traders said the largely technical move in the French market should also be seen against the backdrop of a slight improvement in the general financial market mood. The downward revision from Australian Crop Forecasters of its 2008/09 wheat crop forecast to 20 million tonnes from 21 million due to low rainfall in the south-east grain belt, supported prices….. Full Article: Source


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