Loading…
Chicago wheat futures rose toward a 2013 high of $7.80 a bushel, on track for their biggest monthly gain since April. Traders cited slow Russian export pace and tightening world supplies, and Russia cut its official 2021 grain harvest estimate to just over 123 million tonnes.
Tighter Russian export flows and a smaller Russian crop support wheat prices, which lifts the cost of wheat-based feed ingredients and can pull corn and other feed grains higher as substitutes.
financialpost.comReutersOct 29, 2021After 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 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
Wheat was on track for its biggest monthly gain on the slow Russian export pace, tightening world supplies and a lower Russian crop estimate.
