date:Nov 23, 2012
ught 134,693 tonnes of food wheat from the US, Canada, and Australia overnight. The head of the Russia Grain Union estimated 2012/13 ending stocks at 6 million tonnes vs. USDA estimates of 4.94 and against year ago levels of 10.44 million tonnes.
This would be a critically low level and would likely require a successful harvest next year to enable Russia to be active in the export market.
The news was supportive to wheat futures today but reports surfaced that Iraq bought 350,000 tonnes of w