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Statistics Canada's updated figures show the 2023/24 Canadian wheat, barley, oat and canola crops are larger than previously forecast. Updated Australian government estimates also point to larger crops, except for oats, though both countries' crops remain smaller than last year.
Larger Canadian and Australian crops add exportable supply to a market where both countries supply a large share of world barley and canola trade, which is bearish for prices.
ahdb.org.ukDec 5, 2023Not enough comparable past events yet for a historical read.
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.
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.
