
US wheat futures fell on May 31 after failing to extend a 3.5-month high, amid technical selling and concerns over trade with Mexico, the top buyer of US wheat. The benchmark CBOT soft red winter contract had hit $5.21-1/4 earlier that week.
Trade tension with Mexico threatens a key export outlet, adding downside pressure to US wheat prices.
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 82 past bearish trade events, Wheat (HRW) moved a median -0.3% over 5 sessions (48% higher; middle half -2.8% to +1.9%), 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.