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U.S. Wheat Associates highlights SRW supply and demand points: protein is above average at 9.9%, DON is slightly below average, and SRW is quoted at $202/MT FOB Gulf for June delivery. Ending stocks have fallen from 5.9 MMT in 2016/17.
Declining SRW supplies and a competitive export price could support export demand, but the promotional tone offers little new price catalyst.
uswheat.orgApr 16, 2019After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% 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.
