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Agriculture and Agri-Food Canada cut its 2023-24 canola production forecast to 17.368 million tonnes and ending stocks to 1 million tonnes, down 700,000 tonnes from August. Wheat production was also cut sharply to 29.835 million tonnes, with wheat ending stocks lowered to 3.6 million tonnes.
A much tighter Canadian canola carryout supports canola and canola meal prices, and lower Canadian wheat supplies reduce export availability for feed wheat buyers.
farmtario.comPhil Franz-WarkentinSep 27, 2023
grainews.caPhil Franz-Warkentin, GFM Network NewsSep 27, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
