
S&P Global analysts report European wheat prices are falling as weak demand intensifies competition among sellers, while Black Sea supplies remain low. Russian wheat exports from July to October 27 reached 9 million tonnes, 43% below a year earlier, mostly loaded from Baltic ports, and Baltic FOB prices fell to $258-260 per tonne on November 2 from $270 a week earlier.
Weak European demand and lower Russian Baltic offers point to continued downward pressure on wheat prices, though tight Baltic supply and expected December loading weather problems limit the downside.
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.