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Wheat prices rebounded after heavy slumps as consumers hoarded flour and mills bought wheat. In France and Germany milling wheat rose €3 to €5 a tonne, while Algeria and Tunisia bought large volumes mainly from France.
Coronavirus-related traffic jams at European border crossings raised doubts about logistics.
Strong import demand from North Africa and logistics disruptions in Europe support EU wheat prices and export competitiveness. A weaker euro also supports exports, tightening available supply for feed buyers.
mundus-agri.euMar 19, 2020After 283 past bullish logistics events, WHEAT moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 146 past neutral events of any kind, EURUSD moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and -0.0% 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.
