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Gleadell's weekly market review says US wheat fell $3-4/t on disappointing exports, while cold weather and record-low US winter wheat plantings support prices. European prices were unchanged, Russia trimmed its export projection by 1 mt to 36 mt, and Brexit continues to weigh on UK values.
Lower Russian export forecasts and tight Black Sea supply support wheat values used in feed rations, while weak US exports keep upward pressure limited.
farming.co.ukFeb 1, 2019After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
After 40 past neutral report events, Wheat (HRW) moved a median -0.9% over 5 sessions (38% higher; middle half -3.1% 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.
