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EU soft wheat exports for the season through November 3 totaled 7.76 million tons, down 32% from a year earlier. Barley exports fell 39% year on year, and corn imports rose 8%.
Futures were mixed, with SRW and HRW wheat lower overnight and soybeans down 16 cents.
Weaker EU wheat and barley exports indicate lower competition in export markets, which supports demand for US and Black Sea origins. Higher EU corn imports indicate firm feed demand.
admis.comADMIS Research TeamNov 6, 2024After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% over 20.
Not enough comparable past events yet for a historical read.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
