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Equity markets rallied to new highs during the week while grains recovered from lows. Traders reacted to ECB quantitative easing and expectations of further US rate cuts.
Grains rose after a USDA report came in more bearish than the market expected.
Macro and equity moves dominated the week, and grain prices were mostly driven by short-covering after bearish positioning. The price implication is limited and mainly reflects sentiment rather than new supply or demand.
globalagnetwork.comSep 13, 2019Not enough comparable past events yet for a historical read.
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.
Grains rebounded from lows on 2019-09-13 amid risk-on equity sentiment and ECB easing, which plausibly fed short-covering and a bounce in HRW wheat, though the summary is generic and not wheat-specific.
