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World wheat futures extended their rally last week, with all three US wheat exchanges posting a fourth straight higher weekly close, and Chicago and Kansas closing at their highest in over five years. Importers including Egypt, Algeria and several Asian buyers were active in tenders after entering harvest with thin cover.
Broad import buying combined with weather concerns in key producing regions supports wheat prices and firms export demand for feed-grade wheat alternatives.
graincentral.comGuest AuthorOct 27, 2020After 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 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.
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.
