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Gleadell reports that US feed wheat prices rose about $2/t in range-bound trading, while US export inspections fell to 170,000t and EU soft wheat exports are running more than 30% lower year on year. Russian wheat has dominated Egyptian tenders, and the author expects cash wheat supplies to rise in November.
Weak US and EU export demand against cheaper Russian wheat keeps feed wheat prices capped, with Russian origin setting the price floor for international buyers.
stackyard.comNov 1, 2017After 375 past bearish trade events, WHEAT 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.
