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US wheat prices climbed about $2 per tonne over two weeks in range-bound trade, but US export demand is weak as importers buy cheaper alternatives. EU soft wheat exports are running over 30% lower year on year, and Russian wheat has taken all recent Egyptian tenders.
Weak export demand for US and EU wheat, against firm Russian supply, keeps global wheat prices supported but limits upside. Feed buyers face a market where Russian origin sets the competitive price.
farming.co.ukOct 27, 2017After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% 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.
