Slower Farmer Sales, Baltic Exports Lift Russian Wheat Prices — Market Talk
Bullish strength: 40/100
- Russian wheat prices rose for a second consecutive week amid slower farmer selling.
- Stronger Baltic Sea shipments lifted estimated October exports to 2.8 million metric tons.
- Black Sea export constraints leave Russian exports 2 million to 3 million tons per month below normal volumes.
- Government plans to buy 3 million tons of grain may provide some price support.
Bearish strength: 60/100
- CBOT wheat futures fell 1.3%.
- The expected impact of government grain purchases is limited by existing constraints and market conditions.
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