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The International Grains Council reported that 2017/18 world wheat and coarse grain trade would reach a record 361 million tonnes, up 2.4 percent. Global grain stocks are predicted to decline for the first time since 2012/13, led by corn in China and barley in several exporting countries.
The IGC price index rose 5 percent in February 2018, with barley up 8 percent.
Shrinking stocks and record trade tighten supply for feed grains, supporting corn and barley prices. Expected greater wheat imports by India add further upward pressure on wheat.
graincentral.comHenry WellsFeb 27, 2018After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
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.
