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A Reuters poll of 16 analysts forecasts Russia's 2017/18 wheat exports at a record, helped by large stocks and competitive prices. Combined exports from Russia, Ukraine and Kazakhstan are seen falling 3.3 percent to 50.4 million tonnes as Ukraine's shipments decline.
Record Black Sea export availability at lower prices than European origins adds competitive pressure on world wheat prices, which weighs on feed wheat values for buyers.
customstoday.mediaCT ReportJun 19, 2017After 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.
Not enough comparable past events yet for a historical read.
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.
