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Statistics Canada's final 2022 estimates put Canadian corn at a record 14.5 million tonnes and total principal field crop production at 96.06 million tonnes, up sharply from 2021. Wheat production was 33.8 million tonnes, below the August model estimate and expectations.
A large Canadian harvest increases export supply of grains and oilseeds, pressuring prices, though the wheat shortfall versus expectations partly offsets that.
dtnpf.comCliff JamiesonDec 2, 2022After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 406 past neutral report events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
