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USDA's Economic Research Service projects US hard red winter wheat exports at 155 million tonnes, the lowest since records began in 1973. Drought-cut US supplies and uncompetitive pricing are cited, and export commitments are down 21% year on year.
Weak US export demand leaves more HRW supply domestically, which pressures KC wheat prices, while EU imports at US ports reflect the price gap.
world-grain.comArvin DonleySep 19, 2023After 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.
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.
