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Two opposing forces are shaping the wheat market: extreme cold without snow cover threatens winterkill for the drought-stressed U.S. winter wheat crop, which was planted on a very small area. Russia's record 2017 crop estimates keep rising, and exports could reach about 40 million tonnes against USDA's 33.5 million forecast.
Large Russian supplies and export potential cap wheat prices, while U.S. winterkill risk provides partial support.
millingandgrain.comDynamicJan 21, 2019After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), 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.
