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The March 8 WASDE cut U.S. wheat exports by 15 million bushels to 710 million and raised ending stocks by the same amount to 673 million bushels. Global wheat ending stocks were lowered 0.6 million tonnes to 258.8 million, the lowest since 2015/16, while global coarse grain production was cut 2.7 million tonnes.
Lower global wheat stocks and reduced coarse grain output support prices, though higher U.S. wheat carryout limits gains.
au.nda.newsHigh Plains Journal, Veera's Little Spoons, The Andersons Trade Group, Grain Central, Isolated.ExplorationMar 16, 2024After 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.
After 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.
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.
