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The weekly Sask Wheat outlook reports that IGC November global wheat numbers changed only marginally from October, with production, trade, consumption and carryover stocks each up 1 million mt. The report also includes primary elevator bids and export basis tables for Saskatchewan.
Only marginal changes to global wheat balances leave prices driven by existing supply tightness. Buyers should watch regional bids and export basis for near-term cost.
saskwheat.caNov 30, 2020After 40 past neutral report events, Wheat (HRW) moved a median -0.9% over 5 sessions (38% higher; middle half -3.1% to +1.6%), and -0.5% over 20.
After 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.
