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European milling wheat on Euronext fell 1.9% to 235.75 euros a ton, a six-week low, on thin demand. Traders said Russian wheat is being offered for export well below unofficial state prices, at about $240 a ton FOB.
Cheap Russian origins cap world wheat export values, pressuring feed wheat prices and competing with corn and barley in importing markets.
brecorder.comReutersAug 31, 2023After 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.
Not enough comparable past events yet for a historical read.
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.
