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USDA pegged 2021/22 world wheat production at a record 777.89 million tonnes, with ending stocks falling to their lowest since 2016/17. Lower crops in Canada, Russia and the US were offset by larger output in Ukraine, the EU, Australia and Argentina.
Tightening world wheat stocks provide fundamental support for wheat prices, favoring higher feed wheat costs for buyers.
uswheat.orgJan 5, 2022After 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.
