Loading…
Statistics Canada's June planting survey put 2016 seeded area for wheat, barley, corn and oats at 14.5 million hectares, 4.1% below 2015. A return to normal abandonment rates partly offsets that drop, and the USDA FAS forecasts total production of 52.56 million tonnes, nearly unchanged from 52.807 million in 2015-16.
Favorable prairie growing conditions point to average or slightly above-average yields.
Flat production combined with lower carry-in stocks from strong 2015-16 exports cuts total grain supplies by 3.68%, which modestly supports prices for Canadian feed grains such as barley, oats and wheat. The effect is limited because the production forecast itself is essentially unchanged.
world-grain.comStaffJul 21, 2016After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 35 past neutral report events, Oats moved a median +0.2% over 5 sessions (51% higher; middle half -1.9% to +2.5%), and -1.2% 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.
