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Canadian wheat exports for the first 27 weeks of the season fell 19% year on year to 9.0 million tonnes. Other items include a Egyptian tender for 30,000 tonnes of soybean oil, a US snowstorm disrupting Gulf port shipments, and Argentina's wheat crop exceeding 17 million tonnes.
Weaker Canadian exports and a larger Argentine crop add supply to world wheat markets, while the US port disruption shifts Asian buying toward other origins.
grainsprices.comGate.BGFeb 14, 2017After 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 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), and +0.9% 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.
