
U.S. Wheat Associates reports that HRW export sales for 2018/19 delivery reached 8.70 MMT, up 4% over the five-year average, with weekly sales strong since mid-February on low prices and good quality. HRW Gulf FOB was about $222/MT for May 2019 delivery versus $258 a year earlier, and 2019/20 HRW sales are up 64% year on year.
Lower U.S. HRW export prices and strong buying support export demand for U.S. wheat, while cheap competitive offers pressure wheat values against rival origins.
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.
After 1,079 past trade events, Wheat (SRW) moved a median -0.0% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.2% 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.