Chicago wheat futures fell on Thursday as a short-covering rally earlier this week that took prices to a one-month peak petered out, with traders seeing limited threats to Northern Hemisphere crops despite adverse weather concerns.
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Carryout stocks for old crop remain tight in U.S., making it most competitive on world market
Expected to rise mid-May to mid-June
OFA optimistic farmland protection could be triggered under special economic zone criteria
The first $30 million of a three-year $100 million increase will arrive in 2025