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US wheat export sales for the 2017/18 marketing year reached 12.1 million tonnes, 2% ahead of last year and in line with the five-year average. USDA projects 2017/18 exports at 26.5 million tonnes, 8% below 2016/17.
Hard red winter sales to Mexico rose 72%, and Texas Gulf port closures from Hurricane Harvey may affect future shipments.
Solid export pace supports US wheat, though Gulf port disruption and a projected 8% export decline weigh on the outlook. Feed buyers should watch for Gulf logistics recovery.
uswheat.orgSep 7, 2017After 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.
After 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.
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.
