Wheat Extending Gains as the Crop Deteriorates
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Wheat prices are gaining 4 to 7 cents early Tuesday, following a significant rise on Monday after a White House fact sheet indicated China will purchase at least $17 billion of U.S. agricultural products annually for three years. The U.S. spring wheat crop is 73% planted, ahead of the 5-year average. Export inspections showed a 56.23% drop in shipments from last week, totaling 223,972 MT. Current prices for CBOT and KCBT wheat are up significantly.
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