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US wheat markets gained slightly on fund short-covering and lower US winter wheat crop ratings. EU prices eased, and Tunisia's recent purchase appears to be of Black Sea origin, with France priced out of the deal.
Aggressive Black Sea pricing is capturing export business from EU origins, which pressures European wheat values, while US crop-condition support limits downside in US wheat.
farming.co.ukNov 24, 2017After 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 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% 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.
