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IEG Vu Prices Briefing: UK oversupply drives lamb lower, lemon juice buyers wait

Deficit forecast fails to move sugar as wheat rises on low production estimate

This week in prices, a global deficit forecast failed to move well-supplied sugar market while a low USDA global wheat production figures helped support wheat futures. UK oversupply drove EU lamb prices to 2019 lows as Polish butter prices came up to equalise with other European origins. Indian cumin seed prices weakened despite a lower crop estimate, and lemon juice buyers held off on purchases on expectations of lower prices to come.

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