Wheat Futures Higher After White House Confirms China Deal — Daily Grain Highlights
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Wheat futures rose 4.4% to $6.78 1/4 a bushel following the White House's confirmation of China purchasing $17 billion in U.S. agricultural exports. Corn and soybean prices also increased. Analysts express concerns about the actual demand created by this deal. Severe storms in U.S. growing areas further boosted grain futures. However, U.S. wheat export inspections fell significantly compared to previous weeks. Upcoming reports from the USDA and EIA are anticipated.
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