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EU wheat futures were firm Friday, in line with gains in Chicago's market, after market participants fully digest Thursday's USDA report and realize the market is not that bearish, an analyst says.
"USDA numbers themselves were not overly bearish, they were simply far different from what traders had expected," grains broker Joe Vaclavik says.
He adds that nothing in the report was groundbreaking. Benchmark May Paris milling wheat is up EUR2.50, or 1.3%, at EUR193.75/ton.
(neena.rai@dowjones.com)
(END) Dow Jones Newswires
January 13, 2012 08:36 ET (13:36 GMT)
DJ MARKET TALK: EU Wheat Firms; USDA Report Digested->copyright
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