Loading…
USDA's December report left Ukraine's wheat and barley crop estimates unchanged while raising Ukraine's wheat exports slightly to 24.2 MMT. Ukraine's corn crop and export estimates were raised to 40 MMT and 32.5 MMT, and Russia's wheat crop was lifted by 1 MMT to 75.5 MMT.
The Black Sea grain crop rose 1.5% to 206.3 MMT and export potential rose to 115.8 MMT.
A larger Black Sea corn and wheat export outlook adds supply to world markets, which is mildly bearish for corn and wheat prices and supports feed availability in import markets.
ukragroconsult.comDec 13, 2021After 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.
After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 138 past bearish report events, KWHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% 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.
