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Statistics Canada's June field crop survey shows Canadian wheat plantings at 26.9 million acres in 2023, up 6.7% and the highest level in more than two decades. Canola, barley, corn and soybean areas also rose, while oat, lentil and dry pea area fell.
Larger Canadian wheat and barley areas add to global supply and pressure feed wheat prices. Lower oat plantings support oat prices.
world-grain.comEric SchroederJun 28, 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.
Not enough comparable past events yet for a historical read.
After 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 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.
