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AMIS Market Monitor

last release: Nov 2017

International Prices

The IGC GOI wheat sub-Index retreated by about 1 percent, but market movements were mixed in the major export origins. Despite some reports of tightening logistics, shipments from the Black Sea region maintained a solid pace and this saw export prices edge higher in the region. Strong competition for export business weighed on market sentiment in the EU, exacerbated by a firm euro, with shipments significantly lagging the year ago pace. While there were signs of some pickup in demand in the second part of the month, sluggish export progress weighed on US prices, and values also responded to generally bearish fundamentals, including mid-month upward revisions to outlooks for domestic and global stocks. Quotations softened in Australia as late-season rains were seen stabilising production prospects, although the outturn was still expected to be sharply down from the record of the year before.