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The National Association of Wheat Growers and U.S. Wheat Associates held their fall conference in Denver to set farm bill priorities amid some of the lowest wheat prices in a decade. The groups also discussed a USTR complaint about China and plans to unveil a wheat action plan.
Low wheat prices and trade complaints with China are background pressures on wheat, but the meeting itself is a policy planning event with no new supply or demand shock.
agri-pulse.comDaniel EnochNov 2, 2016After 137 past neutral policy events, Wheat (SRW) moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), and +0.3% 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.
