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    PRICES DROP AGAIN AFTER A NEW REBOUND ATTEMPT.

    26 Oct 2023
    Once again, last week’s rebound was followed by a price drop. Cheap and ample Russian supplies continue to weigh on wheat markets.  In addition, S. American weather is looking more friendly after an ugly start. Geopolitics and macros are depressing with inflation, high interest rates, risks on energy prices increasing fears of an economic slowdown. Markets are well supplied, exports are slow and domestic feed demand remains sluggish. These bearish ag. markets will thus need more to move higher.

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