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    NO REST FOR MARKETS

    16 Oct 2025
    This week started positively until Trump and China changed it all once again. World wheat demand was finally more dynamic, Black Sea weather risks reappeared, the dollar was strengthening, rapeseed had rebounded, and the lack of USDA news had pushed funds to reduce shorts. But the trade war came back  suddenly, washing out most hopes for a deal in October. Prices reverted after this short rebound. For now, the only supportive factor is farmers’ strong retention, keeping basis above normal. 

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