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Russian grain exports through its ports fell sharply in March 2021 after export duties took effect in February and March. Wheat shipments were 67% below March 2020, while corn and barley rose year on year.
Analysts expect the decline to continue in April as Russian wheat becomes less competitive and Russia may enter the new season with large wheat stocks.
Lower Russian wheat exports tighten global wheat supply and support export prices, although large carry-in stocks could cap the rally. Buyers should expect firmer wheat offers from the Black Sea while Russian sales stay weak.
logisticos.orgMar 31, 2021After 182 past bullish policy events, WHEAT moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
