Loading…
Statistics Canada reported May merchandise exports fell 3.8% and imports rose 3%, swinging the trade balance to a C$3.4 billion deficit. Farm and intermediate food exports declined for a third month on weaker wheat and canola demand.
Falling wheat and canola export demand signals softer Canadian export flows, mildly bearish for those grains and their meals.
dtnpf.comCliff JamiesonJul 6, 2023After 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.
Not enough comparable past events yet for a historical read.
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.
