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New wheat and corn export and production estimates for the Black Sea region and EU were released alongside revised IGC production figures. Russia has exported 20.7 million tonnes of wheat so far, and Egypt's GASC bought 175,000 tonnes of Russian wheat at $262/t CFR.
Revised production estimates and Russian export pace, with fears of export quotas and tariffs, shape global wheat and corn balance expectations and can move prices as the market shifts focus to 2021.
mundus-agri.euNov 27, 2020After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
