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USDA's July update raised Ukraine's 2021/22 wheat production and export forecasts by 0.5 million tonnes to 30 and 21 million tonnes, and cut Russia's wheat crop by 1 million tonnes to market expectations. Kazakhstan's wheat production and export estimates were lowered, leaving the Black Sea grain crop 0.74% lower at 214.2 million tonnes.
A slightly smaller Black Sea crop and tighter Kazakh supply modestly support wheat prices, while higher Ukrainian exports partly offset the tightening.
ukragroconsult.comJul 13, 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.
Not enough comparable past events yet for a historical read.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
