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FAO projects 2016 world wheat production to exceed the 2015 record by 1.2%, with record cereal output of 2.569 billion tonnes. Global feed usage is expected to rise 2.7% amid large supplies.
Abundant global supplies and higher ending stocks point to a comfortable balance and ample export availability, which is bearish for feed grain prices.
world-grain.comChris LyddonNov 11, 2016After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
