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Australian reporting says wheat prices have surged as worldwide panic buying spreads. Concerns that major exporters Russia and Ukraine could withhold supply during the COVID-19 pandemic are cited as drivers.
Export restriction fears from Russia and Ukraine would tighten global wheat supply and lift feed wheat costs for importers. Farmers benefit from the higher prices.
afr.comBrad ThompsonMar 26, 2020After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.
After 94 past bullish geopolitics events, Wheat (HRW) moved a median +0.1% over 5 sessions (50% higher; middle half -2.7% to +5.8%), and +0.1% 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.
