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Data from the Canadian Grain Commission show China more than tripled its wheat imports from Canada to 979,100 tonnes through May, compared with the same period a year earlier. Canadian barley exports are also rising.
Cereals Canada suggests trade politics is partly behind the shift, since China has not bought US wheat since March.
Chinese purchases of Canadian wheat and barley replace US sales, supporting export demand for Canadian grain. Wheat and barley prices could firm if the diversion continues.
agcanada.comAGCanadaJul 19, 2018After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
