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Ag Market Activity Up at Mid-Week

CHICAGO - Feb 7/07 - SNS -- International agricultural commodity markets remain relatively busy at mid-week, with Egypt and Dubai buying wheat and markets worrying about the impact Indonesia's floods will have food supplies there.

Markets are looking to Friday's updated USDA supply and demand forecasts for confirmation of the rate of disappearance of corn and other major commodities.

For corn, surveys of traders indicate they expect 2006-07 ending stocks to come in between 702 and 852 million bushels for an average guess of 762 million, up from the USDA's January forecast of 752 million.

Soybean ending stocks are expected to range between 515 and 595 million bushels for an average guess of 569 million, down from the USDA's January forecast of 565 million.

All wheat ending stocks are expected to range between 456 and 497 million bushels for an average guess of 474 million, up from the USDA's January forecast of 472 million.


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