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The Sask Wheat weekly outlook for June 7, 2021 reports that AMIS raised its June global wheat production forecast for 2021 month on month on better crop prospects. The report also includes Saskatchewan bids, spreads and FOB port prices.
A higher global production forecast eases supply concerns and adds modest downward pressure on wheat prices. The change is small and was later overtaken by weather-driven gains.
saskwheat.caJun 7, 2021After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
