
CBOT wheat futures closed higher on Tuesday as traders grew optimistic about a U.S.-China trade deal, with December SRW at $5.29 and KC HRW up 5-3/4 cents. Trump said the two countries were set to come away with a deal ahead of a planned Xi meeting in South Korea.
EU soft wheat exports for the season had reached 6.25 million tons by October 26, down 21% year on year.
Expected Chinese purchases of U.S. grain support export demand and lift futures, while weak EU export pace keeps competition for global wheat sales subdued.
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.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.