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The FAS forecasts Canada's 2023-24 wheat crop at 35.8 million tonnes, the second largest on record, on a record 10.7 million hectares planted. Oat output is projected to fall 21% to 4 million tonnes because of reduced Saskatchewan acreage.
A large Canadian wheat crop adds export supply and pressures wheat prices, while the sharp oat decline supports oat values.
ukragroconsult.comMay 16, 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.
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.
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.
