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USDA Raises Argentine Wheat Export Forecast

Grain

In its latest grain market update the US Department of Agriculture (USDA) has lifted its forecast for Argentine wheat exports in the 2016/17 harvest year (Jul-Jun) by 1.5 Mt to a five-year high of 11.0 Mt, citing a strong harvest and robust shipments. This compares with exports of 8.8 Mt in 2015/16, and just 4.2 Mt the year before.