Agriculture and Agri-Food Canada cut its 2022-23 price forecasts after Statistics Canada data showed larger crop harvests than expected. Durum and spring wheat prices were lowered, oat prices were slashed by Can$75 to Can$360/t, and canola was reduced by Can$35 to Can$865/t.
Bigger Canadian supplies rebuild wheat stocks and add oat and canola availability, pressuring prices for these feed-relevant grains and oilseed meal. The downgrades confirm a North American supply rebound.
After 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 72 past bearish report events, Oats moved a median +0.2% over 5 sessions (50% higher; middle half -3.7% to +3.8%), and -2.5% 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.