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StoneX reported wheat finding export support as Japan, Tunisia, Iraq and Algeria bought wheat from the US, Canada, Australia and the Black Sea. Canola and soybeans were supported by tight old-crop stocks and South American dryness concerns.
Steady importer demand supports wheat near current levels into spring, while oilseed strength keeps soymeal and canola meal feed costs firm.
stonex.comCraig TurnerDec 15, 2022After 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.
After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% over 20.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
