Russia exported 68.4 million tonnes of grain in the July 2023 to June 2024 season, including 55.9 million tonnes of wheat, according to the Russian Grain Union. Barley exports hit a record 6.9 million tonnes and corn shipments rose to 5.3 million tonnes.
Record barley and strong wheat exports add significant global feed grain supply, which is bearish for feed grain prices. The results beat the union's forecasts.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.