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Platts assessed Australian Premium White wheat FOB at $296/mt and Standard White at $276/mt on July 20, 2023, up $3-4/mt day on day. Black Sea feed wheat offers into Southeast Asia rose $10/mt, and Chicago September wheat closed up 57 cents at 727.50 cents/bushel on July 19.
Firmer Black Sea and Australian offers and rising CBOT prices lift Asian wheat import costs. Buyers in Southeast Asia may face higher feed wheat prices while Black Sea demand tapers.
spglobal.comSampad Nandy, Vivien TangJul 20, 2023After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.
Not enough comparable past events yet for a historical read.
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.
