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The global wheat market is firming as Russian export volumes slow sharply, with January shipments estimated at 1.5 million tonnes versus nearly 5 million at the peak. An analyst expects Canadian old-crop wheat prices could rise 25 to 35 cents a bushel as business shifts to North America.
Reduced Russian export competition shifts international demand toward North American wheat, supporting prices.
cjwwradio.comNeil BillingerJan 23, 2019After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), 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.
