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Global wheat markets remain split between large stocks in the EU and Black Sea and tight supplies in Canada, Australia and the US. Russia is expected to export a record 50 million tonnes, with reported floor prices of $270 FOB that are inconsistently applied and FOB prices around $226.
A strengthening ruble has reportedly slowed Russian exports.
Russia's dominant export pace and opaque pricing cap wheat rallies, while a firmer ruble could reduce selling pressure and support prices.
stockjournal.com.auEd Scamps, Cloudbreak Grain MarketingNov 17, 2023After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
Not 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.
