# Uncertainty in Asia forward buying of Black Sea new crop wheat - Fastmarkets

> Asia-based buyers have not yet committed to forward bookings of new crop Black Sea wheat for July and August loading, with far fewer forwards on the books than last year. Traders cite high freight, Russia's new export quota and tax, and weather concerns as reasons for the hesitation.

- Date: 2021-07-19 · published 2021-07-19T12:00:00.000Z
- Category: policy · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/45911-uncertainty-in-asia-forward-buying-of-black-sea-new-crop-wheat-fastmarkets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Delayed forward buying and a new Russian export tax add uncertainty, which can keep Black Sea wheat offers firm and open the door for rival origins to win Asian business.

## Read by commodity

- WHEAT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-01-22 | [Farming News - Weekly round up of the Wheat & OSR markets](https://feedsoft.ai/events/49086-farming-news-weekly-round-up-of-the-wheat-and-osr-markets.md) | +3.9% | +3.1% |
| WHEAT | 2022-05-16 | [Explainer: What India's u-turn on wheat exports means for world markets](https://feedsoft.ai/events/41430-explainer-what-india-s-u-turn-on-wheat-exports-means-for-world-markets.md) | +4.0% | -0.3% |
| WHEAT | 2018-09-05 | [Export Policies Shrink Global Wheat Supply, Increase Uncertainty - U.S. Wheat Associates](https://feedsoft.ai/events/6998-export-policies-shrink-global-wheat-supply-increase-uncertainty-u-s-wheat.md) | +0.2% | -3.9% |
| WHEAT | 2020-01-03 | [Will Shifting Market Factors Hibernate the Bear Market in Wheat? - U.S. Wheat Associates](https://feedsoft.ai/events/55129-will-shifting-market-factors-hibernate-the-bear-market-in-wheat-u-s-wheat.md) | +1.3% | -2.7% |
| WHEAT | 2021-12-30 | [Black Sea wheat prices on uptrend in 2022, mixed outlook for Russian exports 30.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/14525-black-sea-wheat-prices-on-uptrend-in-2022-mixed-outlook-for-russian-exports-30.md) | -0.7% | +9.2% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/uncertainty-in-asia-forward-buying-of-black-sea-new-crop-wheat/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.