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Ukraine has harvested a record wheat crop of about 29 million tonnes and is gaining share in Turkey and other markets traditionally supplied by Russia. Ukrainian wheat sales to Turkey rose almost sixfold to 690 thousand tonnes in July to October.
Analysts credit improved Ukrainian protein quality for its competitiveness.
A large Ukrainian supply with better quality shifts export demand away from Russian wheat, pressuring Black Sea wheat export prices.
millermagazine.comNewclick Dijital Reklam AjansıJan 1, 2020After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% 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.
