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An Agricultural Commodities analysis finds the 2023-24 global grain and oilseed production forecast slightly lower than in September, yet still above 2022-23. Downward revisions to wheat, oilseed and rice output, reflecting below-average rain and above-average temperatures, more than offset higher coarse grain production.
Lower wheat, oilseed and rice estimates tighten global supplies and support prices, partly offset by larger coarse grain output.
search.informit.orgContributors: Kavina Dayal, Matthew MillerDec 1, 2023After 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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% over 20.
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.
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.
