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On September 7, the USDA reported that 85% of the U.S. spring wheat harvest is complete, slightly ahead of the average. Meanwhile, wheat prices showed a mixed reaction, with CBOT soft red wheat futures closing at $5.05 1/2, and KCBT hard red wheat futures at $4.92 1/4, both experiencing small fluctuations.
Export inspections for the week ending September 4 showed 424,993 metric tons of wheat shipped, a decrease of 47.12% from the previous week and 31.57% compared to the same week last year. South Korea was the leading destination for U.S. wheat, importing 68,604 metric tons.
In Ukraine, winter wheat acreage is projected to increase to 4.75 million hectares (11.74 million acres) for the upcoming season, marking a 0.25 million hectare rise from last year, according to the country’s economy ministry.
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