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Western Canadian wheat bids rose $20.30 to $23.60 per tonne for the week after USDA trimmed world wheat ending stocks to 275.8 million tonnes and projected a 14-year low in US wheat supplies. Russia's plan to change its export tax formula and introduce a mid-February export quota also lifted prices.
A cut in world ending stocks and new Russian export restrictions tighten global wheat supply, supporting higher feed grain costs.
agcanada.comAGCanadaNov 15, 2021After 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.
