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Euronext wheat fell to a one-week low after Egypt's state buyer purchased 415,000 tonnes of Russian wheat in a snap tender. Traders said EU exports remain 25 percent below last season's pace, with France relying heavily on Algeria for sales.
Russian wheat winning Egyptian tenders at low prices pressures EU and US export competitiveness and keeps wheat prices under downward pressure.
english.ahram.org.egJan 11, 2019After 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.
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.
