Loading…
Chicago wheat fell to a three-month low as modest weekly U.S. export sales of 162,500 tonnes missed forecasts. Record Russian harvest and Ukrainian grain shipments increased competition, and Statistics Canada reported a smaller-than-expected Canadian crop.
Weak US export demand and cheaper Black Sea wheat push wheat lower, while corn and soybean weakness on export concerns adds to bearish feed-grain pressure.
ukragroconsult.comDec 5, 2022After 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.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.
Weak U.S. export sales, record Russian harvest and Ukrainian shipments raised export competition and drove Chicago wheat to a three-month low on the move's final day.
Weak US export sales, record Russian harvest and Ukrainian shipments increased export competition, pushing Chicago wheat to a multi-month low on the move date.
