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World wheat markets firmed as the International Grains Council projected 2018-19 world wheat production at 737 million tonnes, down 30 million year on year and the first decline in six years. Russian wheat prices edged higher on speculation of an export duty, and the EU harvest was its smallest in six years.
A sharp global supply decline and possible Russian export restrictions tighten wheat availability for importers, supporting higher prices for feed-grade and milling wheat alternatives.
farmonline.com.auGregor HeardJan 28, 2019After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% 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.
