
Russia's seaborne grain exports rose 4.4% year on year to 4.7 million tonnes in December, according to shipping data from industry sources. Black Sea terminals handled 3.9 million tonnes, while Baltic and Far East volumes rose sharply from low bases.
Seaborne exports for the first six months of the season fell 7.1% to almost 30 million tonnes.
Steady Russian seaborne flows keep wheat supply well stocked in export markets, which is mildly bearish for global wheat and feed grain prices, though the cumulative decline reflects the export quota regime.
After 375 past bearish trade events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 82 past bearish trade events, KWHEAT moved a median -0.3% over 5 sessions (48% higher; middle half -2.8% to +1.9%), and +0.1% over 20.
After 480 past neutral trade events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.