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Wheat farmers buoyed by news
2 Apr 2008
US Department of Agriculture data on US grain has supported Australian expectations of good wheat prices. Rabobank analyst Luke Chandler said that assuming good rain for planting was received farmers had a great incentive to go out and plant wheat for the coming season. Rabobank is forecasting wheat prices to stay about US$7.00 bushel for the coming year. The wheat price news comes on top of recent farmer surveys which found that farmer confidence had rebounded strongly. According to Rabobank confidence had been driven primarily by generally favourable seasonal conditions and strong commodity prices.
The Australian, 2/4/2008
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