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Iran issued a surprise tender to buy 3 million metric tons of wheat, its first wheat import in a couple of years, lifting prices midweek. Canada-China geopolitical tension has left canola trade minimal for several months, and demand for vegetable oils for export and biodiesel remains uncertain.
A large unexpected import tender lifts wheat demand, while the canola trade freeze keeps vegetable oil export demand weak and uncertain.
agweek.comAlex Norton, Beeson Inc.Oct 27, 2019After 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.
Not enough comparable past events yet for a historical read.
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.
