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A Saudi Arabian Grains Organisation tender bought 1.02 Mt of barley for January-February delivery at an average $266.83/t CFR, with Australia absent from the tender. The USDA's November WASDE was also released that week, and corn was firmer after it.
Australia's absence from the Saudi tender and the cheaper Argentine origin pressure Australian barley's export competitiveness, while the WASDE shifted corn values.
graincentral.comGuest AuthorNov 12, 2018Not enough comparable past events yet for a historical read.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), 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.
