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Bloomberg reports that Russia has expanded its share of Vietnam's wheat imports, with Russian wheat now competing against U.S., Australian and Canadian supplies. Russian exporters are using smaller ports to keep pace with record wheat export volumes.
Vietnamese buyers are reportedly favoring Russian wheat on price and quality.
Record Russian export pace adds supply competition for U.S. and Australian wheat in Asia, which can cap export prices. Shifting import share changes the demand flow for other origins.
agupdate.comAnatoly Medetsky, Bloomberg NewsJun 29, 2018After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 82 past bearish trade events, Wheat (HRW) moved a median -0.3% over 5 sessions (48% higher; middle half -2.8% to +1.9%), and +0.1% 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.
