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Algeria made a wheat purchase that raised hopes among US farmers for export sales. U.S. wheat prices have fallen 60 percent since a four-year high in 2012, as large harvests worldwide cut export demand.
A purchase by a major importer provides some export demand support, but record global inventories limit the price impact.
reuters.comDec 13, 2017After 431 past bullish trade events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), 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.
