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According to Mercantile, U.S. wheat export sales are running 32 percent ahead of last year. However, Mercantile expects markets to remain under pressure from harvest. Meanwhile, buyers are reluctant to commit to deferred positions due to the large carry increasing later delivery prices. When crops are in the bin, Mercantile sees prices firming.
According to Mercantile, U.S. wheat export sales are running 32 percent ahead of last year. However, Mercantile expects markets to remain under pressure from harvest. Meanwhile, buyers are reluctant to commit to deferred positions due to the large carry increasing later delivery prices. When crops are in the bin, Mercantile sees prices firming.
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