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CBOT March SRW wheat settled down 8 1/4 cents at $5.33 and KC HRW fell 5 1/2 cents to $5.43 on December 19, marking a third straight decline. Weekly US wheat export sales reached a four-week high of 457,933 tons, with purchases from the Philippines and South Korea.
Corn rose on increased export sales to Mexico and South Korea.
Ample global wheat supply and a stronger dollar pressure wheat prices, while steady export demand for corn and wheat from key buyers provides some support for US feed grain prices.
tridge.comVictor LangatDec 20, 2024After 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 82 past bearish trade events, Wheat (HRW) moved a median -0.3% over 5 sessions (48% higher; middle half -2.8% to +1.9%), and +0.1% over 20.
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.
