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Amanda Brill at Total Farm Marketing said, “Wheat rebounded today, led by the winter classes. This was likely a technical bounce, despite another fresh high for the U.S. dollar, spurred on by speculative buying. In the December contract, Chicago climbed 9 cents to 593-1/4, Kansas City gained 6-1/2 cents to 628-3/4, and MIAX was up 4 cents at 626-3/4.” Mark Soderberg at ADM Investor Services said, “Conab lowered their Brazilian production forecast .5 mmt to 5.26 mmt, vs. the USDA est. of 5.8 mmt. Higher global stocks support the recent price selloff however continued supply disruptions from the Black Sea region may reverse that trend.”
