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AAFC cut Canadian wheat ending stocks for 2022/23 to 3.54 million tonnes and for 2023/24 to 5.1 million tonnes. It also cut 2023/24 oat ending stocks to 450,000 tonnes after lowering oat production to 2.816 million tonnes.
Tighter Canadian wheat and oat carryout reduces exportable supply and supports feed grain prices in the coming year.
agcanada.comAGCanadaJul 21, 2023After 52 past bullish report events, OATS moved a median -2.0% over 5 sessions (33% higher; middle half -3.4% to +2.4%), and +0.7% over 20.
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.
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.
