Spring Wheat Futures PricesThu, Dec 18th, 2014
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Wheat futures are currently trading with gains mostly from 9 to 15 cents after double digit gains on Wednesday that carried the market to new highs. A Russian embargo in 2010 caused significant losses for Egypt, and Russian officials are taking pains to indicate that Egypt will receive special treatment under any new rules. Saudi Arabia is not on the preferred list. The Russian changes could result in additional export trade opportunities for the EU, Australia, Canada and the US. The USDA weekly export sales report indicated a need for some additional markets, with net sales last week at 509,500 MT including 33,200 MT of new crop.
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