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Global wheat futures were driven by Russian export pace and uncertainty over possible Russian export restrictions. Russia's first-quarter exports were projected near 14 million tonnes, and an Egyptian GASC tender was filled mostly with Black Sea origin wheat.
Heavy Russian competition in tenders limits US export demand and keeps wheat prices sensitive to any Russian export policy change, which can move feed grain costs.
graincentral.comGuest AuthorSep 11, 2018After 137 past neutral policy events, WHEAT moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), and +0.3% over 20.
After 72 past policy events, KWHEAT 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.
