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Futures Close Report 12th March 2019

Black Sea wheat being offered at cheaper prices despite trader expectations of a slow down in exports from the region.   Prices are such that US wheat is being squeezed out of competition to Asian regions in particular to the worlds second largest importer which is Indonesia.

US EPA indicated it is likely to increase ethanol blending in US fuels in a move which will support US farmers and bio-ethanol distillers at the expense of the US Oil Lobby.