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Igor Pavensky of Rusagrotrans said Russia expects to export 5.3-5.5 million tonnes of grain in September, a record for that month. He projected about 4.8 million tonnes of that would be wheat, and Russia shipped about 5.1-5.2 million tonnes in August.
A record September export pace from Russia increases competition for Black Sea wheat sales and adds pressure on FOB wheat prices. Strong export flows are generally bearish for world wheat values.
apk-inform.comAug 26, 2020After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
