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Wheat futures fell about 1.7 to 1.8 percent after traders took profits on a better-than-expected US spring wheat yield. Prices also dropped in anticipation of the first grain ships leaving Ukrainian ports.
Expected resumption of Ukrainian grain shipments adds supply to world markets, which pressures wheat prices lower.
ukragroconsult.comJul 28, 2022After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% over 20.
After 11 past bearish logistics events, Wheat (HRW) moved a median -0.3% over 5 sessions (45% higher; middle half -2.8% to +0.9%), and +0.4% 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.
