# Political turmoil affects markets - Agweek | #1 source for agriculture news, farming, markets

> Rains in European and Black Sea wheat regions pressured wheat contracts early in the week, while USDA crop condition ratings pointed to an average US winter wheat crop despite the Kansas weather event. Egypt bought its first US wheat cargo in over two years, a 115,000 metric ton sale, as part of a 295,000 ton purchase that also included Russian, Romanian and Ukrainian origins. Funds increased net long positions in Kansas City wheat.

- Date: 2017-05-21 · published 2017-05-21T12:00:00.000Z
- Category: trade · region Egypt · magnitude medium
- Page: https://feedsoft.ai/events/10224-political-turmoil-affects-markets-agweek-1-source-for-agriculture-news-farming
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Egypt's purchase of US wheat supports export demand, while Black Sea and European rains add supply pressure. Russian offers at $198 per ton versus US at $185.40 signal competitive pricing for US wheat exports.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-11-17 | [Markets follow 'buy the rumor, sell the fact' rule - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/11889-markets-follow-buy-the-rumor-sell-the-fact-rule-agweek-1-source-for-agriculture.md) | +3.8% | +3.1% |
| WHEAT | 2019-01-20 | [Even slightly bullish news gives markets some movement - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12388-even-slightly-bullish-news-gives-markets-some-movement-agweek-1-source-for.md) | +3.3% | +2.1% |
| WHEAT | 2019-03-24 | [Grains trending off lows; China talks dragging on - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9647-grains-trending-off-lows-china-talks-dragging-on-agweek-1-source-for.md) | +0.9% | -3.3% |
| WHEAT | 2023-12-15 | [Strong export demand boosts wheat, corn performance - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9994-strong-export-demand-boosts-wheat-corn-performance-agweek-1-source-for.md) | +2.0% | +3.1% |
| WHEAT | 2019-10-27 | [A look at the demand side, even while harvest continues - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/56671-a-look-at-the-demand-side-even-while-harvest-continues-agweek-1-source-for.md) | -0.2% | +6.0% |
| KWHEAT | 2019-11-17 | [Markets follow 'buy the rumor, sell the fact' rule - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/11889-markets-follow-buy-the-rumor-sell-the-fact-rule-agweek-1-source-for-agriculture.md) | +1.7% | +10.8% |
| KWHEAT | 2019-03-24 | [Grains trending off lows; China talks dragging on - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9647-grains-trending-off-lows-china-talks-dragging-on-agweek-1-source-for.md) | -3.4% | -7.5% |
| KWHEAT | 2017-11-24 | [Farming News - EU markets at the mercy of aggressive Black Sea shipping campaigns](https://feedsoft.ai/events/67921-farming-news-eu-markets-at-the-mercy-of-aggressive-black-sea-shipping-campaigns.md) | -1.5% | +0.8% |

## Sources

- agweek.com: https://www.agweek.com/opinion/political-turmoil-affects-markets

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.