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Thursday, December 12, 2013

International wheat and canola prices plunge after WASDE release

By Augusto Semmelroth  |  Source: USDA, WASDE

The latest WASDE report release delivered some bearish numbers for wheat and canola but was relatively neutral for corn and oilseeds. Global wheat and canola output were revised higher on the back of improved production prospects for Canada and Australia. As a result, Chicago wheat futures hit a 17-month low yesterday. ICE Canola Jan-14 is 9% lower than two weeks ago.

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Mecardo information is provided to assist in your marketing decisions. It contains a range of data and views on the current market. It is not intended to constitute advice for a specific purpose. Before taking any action in relation to information contained within this report, you should seek advice from a qualified professional. The information is obtained from a variety of sources and neither Mecardo nor Ag Concepts Advisory will be held liable for any loss or damage whatsoever that may arise from the use of information or for any error or mis-statement contained in this report. 

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