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Sask Wheat's weekly outlook reports that the EU Commission raised EU soft wheat production by 0.2 million tonnes to 125.5 million tonnes, while cutting exports by one million tonnes to 31 million. Benchmark Canadian elevator and port prices are also tabulated.
A slightly larger EU crop with lower exports keeps EU supply ample, which is a mild bearish factor for wheat export prices.
saskwheat.caOct 30, 2023After 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.
