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FranceAgriMer raised its forecast of French soft wheat ending stocks for 2020/21 by more than 100,000 tonnes to 2.7 million. The increase reflects a cut in expected EU exports to 5.8 million tonnes from 5.9 million, while non-EU exports were held at 7.5 million tonnes.
Higher carryout and lower exports mean more wheat stays in France, which is bearish for wheat prices and adds to feed supply. The change is small, though.
brecorder.comReutersMar 11, 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.
