
Russian milling wheat shipments more than doubled to 523,472 tonnes in the week ending October 30, up from 236,853 tonnes the prior week, according to Fastmarkets shipping data. Baltic ports handled 85.4% of the volume, led by Ust-Luga, with Nigeria, Kenya and Venezuela the largest specified destinations.
A sharp rebound in Russian export flows from the Baltic adds supply to world wheat markets and offsets some Black Sea disruption, which is mildly bearish for wheat prices.
After 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.