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USDA data show the EU will fall to third place among wheat exporters this season after drought and floods hurt its crops. Canada is expected to post record sales, Australia will export the most in four years, and Russia will regain the top spot.
The global wheat trade is being reshaped by these shifts.
A smaller EU export pool tightens European supply and supports prices, while larger Canadian, Australian and Russian exports add supply elsewhere. Net effect on feed-grain prices depends on which origins buyers choose.
bloomberg.comMegan Durisin Albery, Ainslie ChandlerAug 19, 2020After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
