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Wheat began the week under pressure after Russia's agriculture minister said 1.5 million tons of grain would be released from reserves. Southern Plains rains were favorable for wheat, and a USDA sale of 120,000 tons of spring wheat to Bangladesh lifted prices briefly.
Russian reserve sales add export supply and pressure wheat prices, while sales to Bangladesh provide modest demand support. Wheat competes with corn in feed rations, so these moves matter for feed costs.
agweek.comRay Grabanski, Progressive AgOct 14, 2018After 122 past bearish policy events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.
After 72 past policy events, Wheat (HRW) moved a median -1.2% over 5 sessions (38% higher; middle half -3.0% to +1.6%), and -0.8% 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.
Wheat opened the week of Oct 8-12 under pressure from Russia's release of 1.5 mln t of reserves, while the USDA Bangladesh sale briefly lifted prices; it explains volatility in the window.
