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Irish domestic grain prices were quiet, with merchants offering green harvest wheat at €151/t and barley at €140/t. Wheat and other grains rose over the fortnight on the US-China trade dispute, with Matif wheat up over 4% and US futures up over 10% for the week.
Recent EU rains eased drought concerns.
Rebounding Euronext and CBOT futures reflect short-covering by traders with large short positions, so weather news could trigger further sharp moves.
ifa.ieMay 16, 2019After 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.
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.
