
Russian export wheat prices fell: IKAR quoted 12.5%-protein wheat at $260 per tonne FOB for December shipment, down $4 from the previous week, while SovEcon estimated $261, down $9. Russian exports reached about 10.3 million tonnes from July to October, and November shipments could exceed 3 million tonnes despite transport disruptions in the Black Sea.
Cheaper Russian offers increase competition for Romanian wheat in export markets, limiting the scope for Romanian prices to rise. The larger prospective Russian shipments add to available export supply and weigh on 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.
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.