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Chicago wheat found support from reports of further cuts to Australian crops and possible early frost in Canada. Funds have squared positions, and Russia is expected to face some export control while Egypt and Saudi Arabia made purchases.
Tightening global export availability and possible Russian export controls support wheat prices, while weak UK demand and maize substitution in feed limit gains.
farming.co.ukSep 21, 2018After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
