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Russia has become the world's leading wheat exporter, overtaking the US in projected 2018 shipments. Former Soviet countries harvested 18% of the global wheat crop in 2017, while the US share fell to 6%, the lowest since 1960.
Russia's rising export dominance shifts global wheat trade flows toward the Black Sea and reinforces a well-supplied wheat market that weighs on prices.
themoscowtimes.comThe Moscow TimesJan 18, 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.
