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Cash wheat prices rose in most major origins last week, led by stronger corn and slowing Russian exports. South Korea bought feed wheat at a narrow premium to corn, and Canadian spring wheat rallied after U.S. tariff decisions were postponed to Feb.
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Narrow wheat-corn spreads let wheat displace corn in feed rations, which supports wheat demand, while slower Russian exports reduce global supply.
saskwheat.caJan 27, 2025After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), 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.
Weekly outlook dated the move day cites stronger corn, slowing Russian exports and postponed US tariffs lifting cash wheat, which are direct supply and trade-flow supports for SRW.
