
Chicago wheat futures fell 1.2% on September 23, 2020, as a firm dollar weighed on already weak overseas demand for US supplies. Traders also cited harvest pressure as US farmers sold grain.
Weak export demand and harvest selling keep US wheat prices under pressure, while a firmer dollar makes US wheat less competitive abroad.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 45 past bullish trade events, US Dollar (Broad) moved a median -0.0% over 5 sessions (42% higher; middle half -0.3% to +0.4%), and -0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.