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The Miller Magazine article summarizes the IGC's first 2023/24 wheat forecast of 787m t, about 2% lower year on year but still above average. Cumulative output in eight major exporters is seen 14m t lower at 387m t, and carryover stocks are forecast to tighten.
A slightly smaller world wheat crop with tightening stocks supports prices, though the output remains ample relative to demand.
millermagazine.comNewclick Dijital Reklam AjansıApr 1, 2023After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% 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.
