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Sask Wheat's weekly outlook for May 8, 2023 reports AMIS raising 2022/23 global wheat output by 4 million tonnes to about 800 million tonnes, led by Kazakhstan. The report also provides Saskatchewan elevator bids and export port prices.
Higher global output estimates add supply and weigh on wheat prices, offering feed buyers cheaper wheat options.
saskwheat.caMay 8, 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.
