I think alot of the above comments are true.
When you have a mountain of feed wheat which you have never had before you have to start somewere and sell in a rising market and if each sale is higher than the prevoius, you build a half decent price. Plus talk of drought in china and other parts maybe they are buying before price heads north in a hurry.
Also it may not neccessarily be under cutting it could be a case of china putting there cards on the table saying this is our buy price for this week take it or leave it, as there is so much feed wheat in the eu,canada and australia they will test the market with the deals until they get a taker?? Anyone believe that theory, but guess you could still argue australia may be a weak seller?
When you have a mountain of feed wheat which you have never had before you have to start somewere and sell in a rising market and if each sale is higher than the prevoius, you build a half decent price. Plus talk of drought in china and other parts maybe they are buying before price heads north in a hurry.
Also it may not neccessarily be under cutting it could be a case of china putting there cards on the table saying this is our buy price for this week take it or leave it, as there is so much feed wheat in the eu,canada and australia they will test the market with the deals until they get a taker?? Anyone believe that theory, but guess you could still argue australia may be a weak seller?
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