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“Wheat prices got thumped on more sharp losses in the corn market,” Ami Heesch, with CHS Hedging, said. “Chicago traded both sides with support stemming from a bout of short covering. Mpls and KC fell to new contract lows on bigger production forecast than what the trade was expecting.”

“Lower world wheat prices offered resistance to futures,” Steve Freed, with ADM Investor Services, said. “There is too much wheat supplies in the US and world. US total supply is near 3,187 mln bushels with total demand near 2,173.”

This article originally ran on agupdate.com.

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