Loading…
Russia was kept out of an Egyptian wheat tender sale, which went to Ukrainian suppliers, due to unofficial policies aimed at preventing a domestic price spike. Russia is the world's top wheat exporter and Egypt's main supplier.
Russia withholding exports from key buyers like Egypt shifts sales to Ukraine and tightens global wheat trade flows, a modestly supportive factor for world wheat prices.
reuters.comMichael HoganNov 6, 2024After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% 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.
