CBOT wheat futures fell on reports that Russia is issuing grain vessel permits for the Sea of Azov. The permits point to Russian grain shipments resuming from Azov ports.
Renewed Russian shipments from Azov ports add export supply to the Black Sea market and pressure wheat prices. Geopolitical risk in the region may still limit the decline.
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.