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Russian wheat output has come in larger than expected, with unofficial estimates near 133 million tonnes compared with the ministry's earlier 110 million forecast. The article says the world market faces a glut as Russia is likely to become the largest exporter this season.
A bigger Russian crop adds export supply and pressures world wheat prices, especially as Russia competes for buyers such as Egypt.
producer.comadminSep 21, 2017After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
