Chicago wheat rose as China reportedly sought its first US wheat shipments in over a year, with inquiries for 240-400kt of SRW and HRW, and the White House confirmed China would lift tariffs on US wheat. Southern Australian rain is slowing harvest and spot wheat is being bought at premiums.
Confirmed Chinese purchases and tariff relief support US wheat export demand and futures, though analysts see the buying as a goodwill gesture with limited effect on Australian wheat demand.
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.
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.