Daniels Trading Senior Broker Craig Turner was quoted in the Dow Jones Newswire article titled “US Wheat Prices Gain on Export Hopes.” This news story reports on increased demand for US Wheat due to price declines.
Wheat futures rose Thursday on speculation that export demand for U.S. inventories may rise because the prices have become more competitive against rival producers.
Corn and soybean futures were mostly lower.
Wheat prices gained as the market awaited news on the results of a tender by Egypt for wheat from global suppliers for delivery next month. Analysts said U.S. prices were competitive and that it could be selected as a supplier, though shippers such as France were in the running.
U.S. wheat prices have fallen in the past two months, which could stimulate greater demand from foreign buyers, analysts said.
“We are getting pretty competitive in wheat prices” with European shippers, said Craig Turner, an analyst with futures brokerage Daniels Ag Services in Chicago. “Our prices have come down considerably.”
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