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S&P Global reports that wheat export prices rose 21% to 30% globally over the past year as drought and frost cut crops in Russia, the US and Canada. Canada's wheat output was lowered to a 10-year low of 24 million mt, and export regulations in Russia and Belarus are also supporting prices.
Lower exporter supplies and export curbs tighten the global wheat balance, pushing up feed and milling wheat costs and keeping prices firm into the new crop year.
spglobal.comSampad Nandy, Shikha SinghSep 8, 2021After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), 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.
