date:Dec 12, 2012
nnounced last week that it had bought nearly 140,000 tons of US wheat. Along with expectations of better export demand going forward, prices continue to be supported by crop problems in Argentina.
Flooding and excessive moisture during the harvest period have some analysts suggesting Argentinas crop will come in below 10 MMT, off from the 11 MMT crop that is currently projected. Excessive moisture also suggests potential issues in crop quality which could limit their wheat exports for food.