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Rio Grande do Sul, Brazil's largest winter small-grain producer, is expanding small-grain acreage on higher prices and demand. Emater estimates 1.41 million hectares of winter wheat, up 15%, and 392,500 hectares of oats, up 14.2%.
Conab projects a record Brazilian wheat crop of 8.35 million tonnes with imports of 6.5 million tonnes expected.
Larger Brazilian wheat and oat plantings could ease import demand over time, but Brazil still needs substantial imports, so the effect on world prices is moderate.
ukragroconsult.comJun 20, 2022After 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.
After 35 past neutral report events, OATS moved a median +0.2% over 5 sessions (51% higher; middle half -1.9% to +2.5%), and -1.2% 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.
