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World wheat futures rose in early October on concern that Russia would slow exports through stricter phytosanitary inspections at ports. Egypt bought 180,000 tonnes of Russian wheat at a GASC tender priced $8 higher than in mid-September, and analysts flagged a possible Russian export tax.
Possible Russian export restrictions or taxes would tighten global wheat supplies and support world prices.
farmweekly.com.auGregor HeardOct 10, 2018After 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.
After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% 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.
Concern that Russia would slow exports via stricter port inspections or an export tax, plus a higher Egyptian tender price, supports world wheat prices through supply-risk sentiment.
