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USDA NASS forecasts Ohio winter wheat at 36.0 million bushels with yields up 19 bushels from last year, and oat yields up 13 bushels. Nationally, US winter wheat production is forecast at 1.22 billion bushels, down 7% from 2019.
A 7% national decline in winter wheat output tightens US wheat supply, which is supportive for prices. Higher oat yields in Ohio add to oat supply and weigh on oat prices.
qa.morningagclips.comKyleJul 16, 2020After 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 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.
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.
