date:Feb 07, 2013
ropped their forecast to 81.20 million tonnes vs. their December estimate of 82.2 million tonnes.
Other private analysts are expecting production between 83-85 million tonnes. US export demand remains strong but some anticipate a large Brazilian crop to help take on some of the demand burden once harvest gets moving in the month of February.
Wheat Futures Closed Lower
March Wheat finished down 5 1/2 at 757 1/2, 9 off the high and 6 1/2 up from the low. May Wheat closed down 6 1/2 at 764 1/4.