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U.S. soft wheat exports had a weak week in mid-February, with sales of SRW down 26.5% from the prior season. Total U.S. wheat sales are still 37.2% higher than last season, and hard winter wheat sales are nearly double 2015-16 levels.
Weaker SRW export demand compared with last year is bearish for U.S. soft wheat prices. Strong overall sales and HRW demand partly offset this and support the export outlook.
grainsprices.comGate.BGMar 6, 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.
After 102 past bullish trade events, KWHEAT 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.
