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Aug 30, 2022REPORTCanada

StatCan experts have increased their forecasts for the harvest of grain and oil crops in Canada 30.08.2022

UkrAgroConsult, citing GrainTrade, reports StatCan raised its Canadian grain and oilseed forecasts, with wheat at 34.6 million tonnes and canola at 19.5 million tonnes. Both figures are below USDA's August estimates for wheat and canola.

WHY IT MATTERS

Canadian output slightly below USDA's August numbers offers modest support to wheat and canola prices.

AFFECTSWHEAT▲CANMEAL▲

SOURCE
ukragroconsult.comAug 30, 2022

Price reaction & history

WHEAT▲bullishSO FAR1d -0.5%5d -2.3%20d +2.6%

After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.

Oct 19, 2021In October, the USDA reduced its grain crop and export forecasts for the Black Sea region 19.10.2021 - UkrAgroConsult+0.7%
Jan 27, 2026COCERAL in its first forecast for 2026 expects a decrease in the grain harvest in Europe.+0.6%
Apr 27, 2022Australia may have a good grain harvest 27.04.2022 - UkrAgroConsult-1.9%
Jan 2, 2024Experts have lowered the forecast for the soft wheat harvest in the EU-2.8%
Jan 27, 2021Smaller wheat and oat crops forecast for Canada | 2021-01-27 | World Grain-10.0%

CANMEAL▲bullish

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.

WHEAT · GP ▸

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CANMEAL · GP ▸

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