
Saudi Arabia's SAGO bought 1,009,000 tonnes of 12.5% protein wheat in an international tender for April-June 2023 shipment at an average price of $382.56 a tonne. Origins included the EU, Black Sea, North and South America and Australia.
A large state tender purchase firms international wheat demand and supports export prices for origins competing for Middle East business.
After 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.
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.