Mecardo’s Percentiles update for December 2021.
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*Dairy data unavailable for December 2021 update.
Percentiles are an important tool for assisting in the decision-making process. They can provide an indication of the range in which prices have moved and how much time they have spent at varying levels.
A percentile is a measure of how often, historically, prices have fallen above or below a particular price level. It gives a brief snapshot of whether a market has more upside or downside and how large this may be.
For example, if a price is at its 67th percentile, this means that 67% of historical prices have been below that value and 33% of prices higher. Similarly, a 90% percentile means that 90% of the time, prices have been lower and higher just 10% of the time.
Russia ramping up exports
Wheat has trended sideways for the week as the market looks for future direction. The general consensus is for continued pressure as Russia amps up