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A Reuters poll of 19 analysts, officials and traders forecasts Russia, Ukraine and Kazakhstan wheat exports rising 4% to 63.2 million tonnes in 2019/20, with the three-country crop up 8.5% to 120.4 million tonnes. A June heatwave led to Russian crop downgrades, and SovEcon and IKAR cut their forecasts.
A larger Black Sea export supply and improved Russian competitiveness, especially against a challenged US crop and possible EU downgrades, add pressure on world wheat export prices.
grainunion.kzJul 16, 2019After 1,006 past bearish report events, WHEAT 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, KWHEAT 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.
