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USDA forecasts Russian grain exports to reach a record of nearly 45 million tonnes in the current marketing year, with wheat at a record 35 million tonnes. Russia has also become the fifth-largest feed grain exporter, mostly barley, ahead of the US in that ranking.
Record Russian shipments at low prices increase competition for US wheat and feed grain sales in import markets, which weighs on export prices for those commodities. Barley and corn are also pressured by the added supply.
agriculture.comChuck AbbottFeb 26, 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.
Not enough comparable past events yet for a historical read.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
