CHICAGO: Investment bank Goldman Sachs said on Friday that it saw growing upside risks to wheat prices in the coming months due to continued dry weather in countries like Argentina, India, Australia and the Former Soviet Union states.
The bank told clients in a note that production in these countries will likely be well below the current forecasts by the US Department of Agriculture.
Goldman said it had closed its short Chicago Board Of Trade wheat versus corn trade at a value of 72 cents per bushel on Thursday, below its entry level of $1.21, for a gain of almost 50 cents.
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