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Egypt's GASC bought 360,000 tonnes of wheat, with 180,000 tonnes from France and 60,000 tonnes each from Romania, Russia and Ukraine. The lack of US participation in the tender pushed wheat futures to a seven-month low.
Egyptian purchases from Black Sea and EU origins at lower prices indicate that non-US supply is capturing major import demand. This keeps US wheat futures under bearish pressure.
enterpriseam.comFeb 21, 2019
grainbrokers.com.auFeb 5, 2019After 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.
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.
