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An Agricultural Commodities outlook says global grain and oilseed production in 2023-24 is forecast to be 2% higher than 2022-23. The increase reflects better seasonal conditions in Argentina and the United States after La Niña-driven dryness the previous year.
Wheat and coarse grain production forecasts were revised up, while rice was revised down.
Higher global grain and oilseed output adds to supply and tends to weigh on feed grain and oilseed meal prices.
search.informit.orgContributors: Kavina Dayal, Matthew MillerMar 1, 2024After 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 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 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.
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.
