Daniels Trading Senior Broker Craig Turner was quoted in the Dow Jones Newswire article titled “Exports Boost Wheat; Corn, Soybeans Split” The article examines the export market’s impact on wheat prices.
U.S. exporters shipped 9.86 million metric tons of wheat from the start of the marketing year on June 1 through Sept. 5, a 34% increase from the same period a year earlier, according to the USDA. Brazil has been a big buyer of the grain, and is forecast to import 1.28 million metric tons from the U.S. in the current marketing year, up from 108,000 tons last year, according to the USDA.
Wheat exports have been running above trend, and wheat [prices] look to be bottoming out,” said Craig Turner, an analyst with futures brokerage Daniels Ag Services in Chicago.
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