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Oct. 26 reports showed Egypt tendered for U.S. SRW wheat, but Russia undercut the U.S. C&F price on Oct.
30 and won the second Egyptian cargo. SRW and HRW prices had risen on the sale announcement and fell 12 cents after the loss.
Russian price competition in Egyptian tenders caps U.S. wheat export demand, keeping pressure on U.S. wheat values until freight or FOB spreads shift.
farmprogress.comKim AndersonNov 1, 2018After 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 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.
