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Traders began offering more Ukrainian grain for sale after the first shipment since Russia's invasion left port, with roughly 20 million tonnes of last year's crop still stuck in the country. Ukrainian 11.5% milling wheat was offered at $310 to $320 per tonne FOB, about $10 to $20 cheaper than Russian origin, and roughly 70 ships were waiting to sail.
A large overhang of discounted Ukrainian grain that can now move adds export supply and pressures wheat and corn prices, with the potential to shift global feed grain flows.
gcaptain.comReutersAug 5, 2022After 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.
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.
