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Russian wheat exports have effectively dried up after the country burned through its quota through June. Importers including Egypt and Turkey are rushing to stock up before the window closes.
Buyers rushing to secure supply from alternative origins bids up global wheat prices and raises food security concerns for import-dependent countries.
world-grain.comArvin DonleyApr 27, 2020After 431 past bullish trade events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 102 past bullish trade events, KWHEAT moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% 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.
