
Russia's seaborne grain exports rose 39.5% year-on-year in November to 4.8 million metric tons. Exports from Black Sea terminals rose 51%, while Caspian Sea exports fell 38%.
Strong Russian export pace at near-record levels adds supply to a market already well stocked, which is bearish for wheat and feed grain prices.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.