
USDA's Economic Research Service cut 2018-19 U.S. wheat exports by 25 million bushels to 1 billion. Export sales through six months are only 41 percent of the total, below the 10-year average of 52 percent.
Lower U.S. exports and slow HRW sales leave more wheat in storage and add pressure to wheat prices, while Russia gains market share on price.
After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.