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The March 2021 USDA report made no changes to Ukraine's wheat, corn or barley estimates. Russian production was revised to match official 2020 harvest data, and Kazakhstan's wheat export estimate rose by 0.2 million tonnes.
The Black Sea grain crop was revised down 0.02% to 201.728 million tonnes, and export potential rose 0.2% to 102.16 million tonnes.
The report's small revisions leave Black Sea supply broadly unchanged, so it provides little new price direction. The higher Kazakh wheat export estimate adds slightly to regional supply.
ukragroconsult.comMar 12, 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.
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.
