# Daily market wire 24 Oct 2016 - Grain Central

> Russia is storing a record amount of wheat, with stockpiles up 22% year on year to an all-time high of 33.8 million tonnes, as its export program lags a large crop. Wheat and oilseed markets were modestly lower, with the dollar strong and global supplies heavy.

- Date: 2016-10-23 · published 2016-10-23T12:00:00.000Z
- Category: trade · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/10543-daily-market-wire-24-oct-2016-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Large Russian stocks that cannot be exported quickly add pressure on world wheat prices and reduce feed wheat premiums in import markets.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2016-10-24 | 1 | -2.2% | -3.4 | Record Russian wheat stockpiles and heavy global supplies combined with a strong dollar weighed on the market (supply and currency). |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-05-11 | [Daily Market Wire 11 May 2021 - Grain Central](https://feedsoft.ai/events/7465-daily-market-wire-11-may-2021-grain-central.md) | -1.1% | -4.4% |
| WHEAT | 2020-07-17 | [Daily Market Wire 17 July 2020 - Grain Central](https://feedsoft.ai/events/6208-daily-market-wire-17-july-2020-grain-central.md) | +0.3% | -2.0% |
| WHEAT | 2023-01-05 | [This weeks market movers: Grain market daily \| AHDB](https://feedsoft.ai/events/12191-this-weeks-market-movers-grain-market-daily-ahdb.md) | -2.7% | -3.0% |
| WHEAT | 2025-03-06 | [What’s driving global wheat markets? Grain market daily \| AHDB](https://feedsoft.ai/events/12566-what-s-driving-global-wheat-markets-grain-market-daily-ahdb.md) | -0.0% | +2.9% |
| WHEAT | 2019-05-10 | [Grain market week in review - May 10, 2019](https://feedsoft.ai/events/5736-grain-market-week-in-review-may-10-2019.md) | -0.5% | +4.8% |
| KWHEAT | 2025-11-07 | [Lower Chinese buying pushes grain prices down: Grain market daily \| AHDB](https://feedsoft.ai/events/8213-lower-chinese-buying-pushes-grain-prices-down-grain-market-daily-ahdb.md) | +0.7% | +0.2% |
| KWHEAT | 2019-10-23 | [Why aren't UK wheat futures following US trends? Grain Market Daily \| AHDB](https://feedsoft.ai/events/56604-why-aren-t-uk-wheat-futures-following-us-trends-grain-market-daily-ahdb.md) | -0.5% | +1.1% |
| KWHEAT | 2018-11-17 | [Global trade flows dominate local cash markets — This week in the grain markets - RealAgriculture](https://feedsoft.ai/events/11723-global-trade-flows-dominate-local-cash-markets-this-week-in-the-grain-markets.md) | -3.8% | +7.1% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-24-oct-2016/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.