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FranceAgriMer raised its forecast for French soft wheat exports outside the EU to 10.1 million tonnes, up from 10.0 million, about 15% above last season. It cut the forecast for intra-EU soft wheat exports to 7.07 million tonnes and lowered projected end-season stocks to 2.13 million tonnes, citing a reduced harvest estimate.
Strong non-EU export demand supports wheat prices, but uncertainty over whether the Ukrainian Black Sea corridor is extended after late November could shift buyers toward EU origin and add volatility.
agriculture.comReutersOct 12, 2022After 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.
