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The International Grains Council cut its 2021/22 world wheat production estimate to 789 million tonnes from 790 million in May, while raising its wheat trade forecast. The weekly outlook also reports Saskatchewan elevator bids and export prices.
A small cut to world output with higher trade implies modestly firmer export demand, but the change is too small to move prices much on its own.
saskwheat.caJun 28, 2021After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
