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A Thai importer group rejected all offers in a tender for about 240,000 tonnes of feed wheat, seen as priced too high. The group instead bought an unknown volume of Australian feed barley at about $200 per tonne c&f for nearby shipment and $193-195 for November.
Buying barley over wheat at lower prices indicates barley is competitive in Asian feed markets, supporting barley demand and pressuring wheat offers.
brecorder.comReutersJun 10, 2020Not enough comparable past events yet for a historical read.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
