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The Hightower Report said, “Wheat continues to struggle with bearish global supply fundamentals and upside momentum seen early this week has ended. However, speculative funds are already leaning bearish and much of the known bearish news may already be priced in.” Amanda Brill at Total Farm Marketing said, “The Grain Association of Western Australia has raised its forecast for the region’s wheat harvest to 11.8 mmt for the 25/26 season. This would be up from August’s estimate of 11.5 mmt. Australia is one of the world’s largest exporters of wheat.”
