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Argus reports that global wheat prices fell on Tuesday as signs of progress in Russia-Ukraine peace talks in Istanbul weighed on cash and futures markets. Sellers of Russian milling wheat cut offers to around $400 per ton fob, and some buyers delayed purchases.
Prospects of renewed Black Sea supply and softer demand push wheat prices lower, though logistics recovery could take time.
argusmedia.comMar 29, 2022After 80 past bearish geopolitics events, Wheat (SRW) moved a median -0.4% over 5 sessions (44% higher; middle half -1.4% to +1.9%), and -0.5% over 20.
After 16 past bearish geopolitics events, Wheat (HRW) moved a median -3.0% over 5 sessions (13% higher; middle half -4.3% to -1.9%), and -0.5% 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.
