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An explainer examines whether Western sanctions have affected Russia's wheat exports. Russian wheat production has risen by more than 60% over the last decade, and many countries in Africa, the Middle East and Asia rely on Black Sea wheat for milling and feed-quality supplies.
Russia's large and growing wheat output keeps global supply ample, which tends to cap wheat prices.
reuters.comSybille De La Hamaide, Gus TrompizMay 11, 2023reuters.comMaytaal AngelMay 11, 2023Not enough comparable past events yet for a historical read.
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.
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.
