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Agriculture Commodity Markets Slow
CHICAGO - Feb 7/06 - SNS -- International agricultural commodity markets were relatively slow, judging from the level of overnight trading activity.
Wheat traders are waiting to hear from Iraq about their million ton import tender; while Japan announced details of its regular weekly wheat tender; and buyers in South Korea tendered for 110,000 metric tons (MT) of optional origin corn overnight.
However, prices are found through a combination of fundamental, psychological and technical factors. This is giving some market participants pause because of the perception wheat futures have become overbought in the last few sessions.
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