Explainer: Why are Russian export prices roiling the wheat market?

After 82 past bearish trade events, Wheat (HRW) moved a median -0.3% over 5 sessions (48% higher; middle half -2.8% to +1.9%), and +0.1% over 20.

• Dec 7, 2022Wheat prices touch 14-month low on surging Russian exports - Nikkei Asia+4.4%
• Feb 2, 2021Record wheat exports from Russia increases pressure on prices+2.3%
• Nov 20, 2018Wheat price held hostage to pace of Russian exports - Farmers Weekly-3.3%
• Sep 25, 2023Terrain | Cheap Russian Wheat Puts Lid on U.S. Wheat Prices-6.7%
• Jun 29, 2018Russian power in Asia's wheat market now includes Vietnam+8.6%

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.

• Apr 26, 2023Ukraine's grain export success placates market despite Russia's threats | Reuters-0.1%
• Dec 7, 2022Wheat prices touch 14-month low on surging Russian exports - Nikkei Asia+10.0%
• May 11, 2023Explainer: Have Western sanctions on Russia impacted its wheat exports? | Reuters-1.1%
• Nov 22, 2021Russian wheat exports on the rise - The Sizov Report blog-0.1%
• Jun 19, 2021EU wheat export outlook promising as harvest, Russia eyed - Markets - Business Recorder-8.4%