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USDA's December 10 Grain: World Markets and Trade report showed global wheat prices rising despite record world production and stocks. Record imports by China and Pakistan drove trade to a record in November, while China's domestic prices hit five-year highs and auction sales of state stocks are accelerating.
Record import demand from China supports global wheat prices, while accelerating Chinese state auctions add available supply that could cap gains.
millermagazine.comNewclick Dijital Reklam AjansıDec 16, 2020After 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.
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.
