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The North Dakota Wheat Commission says the CPTPP trade deal, which the US is not part of, will give Japan's other suppliers a $0.38 per bushel price advantage on hard red spring wheat from April 1. That gap could widen to nearly $2 per bushel by 2026 as tariffs decline.
Preferential tariffs in Japan could shift export flows away from US wheat, modestly bearish for US wheat prices and export demand.
farmprogress.comMar 12, 2019After 375 past bearish trade events, WHEAT 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, KWHEAT 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.
