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Algeria, the Philippines, and Japan announced grain import tenders, and Japan cancelled a 200,000-ton barley fodder auction. India plans to raise its wheat import tax to up to 10% from 0%, and Jordan bought 50,000 tons of hard wheat at $203/ton C&F.
Ukraine has exported 32.13 million tons of grain so far in the season.
Japan's cancelled barley tender removes some near-term demand, while India's proposed wheat import duty could reduce its import demand and add to global wheat supply pressure.
grainsprices.comGate.BGMar 23, 2017Not enough comparable past events yet for a historical read.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
