
Northwest News Network reports that wheat farmers in the Northwest are finishing harvest while losing money on each load because of low prices. Farmers estimate losses to China trade since last year at about $430 million, and wheat futures fell about 30 cents after a USDA report projected large corn and wheat crops.
Low prices and large expected crops reinforce bearish wheat pricing, and reduced export access to China weighs on demand for Pacific Northwest wheat. Feed buyers may see continued cheap wheat supplies.
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.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.