Chicago SRW wheat futures were down 16 to 17 cents midday Friday, with KC HRW and MPLS spring wheat also lower. The USDA weekly export sales report showed a marketing-year low of 140,591 MT for the Christmas week, below estimates.
Taiwan is tendering for 114,650 MT of US wheat.
Weak export sales point to soft foreign demand for US wheat, a bearish factor that could make wheat a cheaper but less competitive feed ingredient.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), 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.