Wheat Posts Double Digit Losses on Tuesday

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.

• Dec 14, 2017India Doubles Import Duty On Wheat | Miller Magazine+1.3%
• Jun 13, 2018U.S. grains: CBOT wheat, soybeans post sharp losses - AgCanada-2.0%
• Feb 27, 2019US wheat futures tumble | The Land | NSW+1.3%
• Sep 25, 2023Terrain | Cheap Russian Wheat Puts Lid on U.S. Wheat Prices-2.7%
• Dec 5, 2022Wheat plunges to 3-month low on export competition-9.5%

After 82 past bearish trade events, Wheat (HRW) moved a median -0.3% over 5 sessions (48% higher; middle half -2.8% to +1.9%), and +0.1% over 20.

• Sep 25, 2023Terrain | Cheap Russian Wheat Puts Lid on U.S. Wheat Prices-6.7%
• Dec 7, 2022Wheat prices touch 14-month low on surging Russian exports - Nikkei Asia+4.4%
• Apr 5, 2018Global Perspective on Wheat Trade - U.S. Wheat Associates+6.3%
• Aug 3, 2020U.S. wheat futures fall on U.S. export woes; corn, soybeans firm | Financial Post-6.1%
• Feb 2, 2021Record wheat exports from Russia increases pressure on prices+2.3%

Not enough comparable past events yet for a historical read.