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USDA export quotes for wheat rose since the November WASDE, with Hard Red Winter up $17/ton to $379 and Soft Red Winter up $13/ton to $348. Australian quotes rose $22/ton and Russian export tax has climbed above $80/ton from $25/ton at the start of the marketing year.
Tighter high-protein supplies and rising Russian export taxes support global wheat prices, which lifts feed-wheat alternatives relative to corn and supports the wheat complex.
ukragroconsult.comDec 10, 2021After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% 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.
