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Chicago wheat rebounded 1.1% after hitting its lowest level since October 2021, as Russian exports and a Ukrainian shipping channel eased supply concerns. Pakistan bought 950,000 tonnes of wheat, and soybeans rose on signs of Chinese demand and Argentine drought concerns.
Expanding Russian and Australian supplies cap wheat prices, while Chinese buying and Argentine dryness provide support for soybeans and their meal.
financialpost.comReutersDec 7, 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 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
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.
