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CWB Lifts Durum Pools
WINNIPEG - Aug 24/06 - SNS -- The Canadian Wheat Board (CWB) boosted projected returns for durum wheat in 2006-07, but painted a mixed picture for other wheats, with the Pool Return Outlook (PRO) ranging between CDN $3 per metric ton (MT) higher and $5 lower.
Discussing the situation facing wheat markets, the CWB said, "The North American milling wheat supply situation is not as bullish as last month, with U.S. spring wheat yields better than expected.
"The U.S. wheat futures markets have also reacted negatively to sluggish demand for U.S. wheat, as well as the perception that the U.S. corn crop is getting larger. However, global wheat supplies have tightened, given smaller crops in Australia and the DU-25, which in turn has supported prices for lower grade milling wheat."
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