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Canadian spot wheat basis in southern Saskatchewan reached its strongest level of the crop year after the tentative CN and union deal. The U.S. national average spring wheat basis strengthened to 2 cents under December Minneapolis futures, and the soft red winter basis is well above its five-year high.
Cash basis has gained 60 cents since August while futures fell 38 cents.
Stronger cash bids reflect the easing of rail disruption and firm physical demand for wheat. Buyers should expect cash wheat values to stay firm while futures remain under pressure.
dtnpf.comCliff JamiesonNov 27, 2019After 283 past bullish logistics events, WHEAT moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), 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.
