◂ Event Timeline

Sep 15, 2020REPORTGlobal

Growers eager to forward sell after release of forecasts

The USDA's WASDE raised its Australian wheat production forecast to 28.5 million tonnes, slightly below ABARES's 28.9 million. Global wheat production was raised 4.46 million tonnes, led by Australia and Canada.

WHY IT MATTERS

Higher global wheat supplies and larger ending stocks are mildly bearish, though firm Black Sea domestic prices limit the downside.

AFFECTSWheat (SRW)▼

SOURCE
theland.com.auMatt Wallis, AwbSep 15, 2020

Price reaction & history

Wheat (SRW)▼bearishSO FAR1d -0.3%5d -0.8%20d +7.8%

After 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.

Jun 18, 2018Wheat support slips after USDA report | The Land | NSW-0.3%
Jul 9, 2021Grain growers face new challenges after bumper season - The Farmer-1.4%
Mar 18, 2021The higher forecast production in the new season lowers the price of wheat old crop+0.9%
Dec 19, 2023Increasing forecasts of wheat harvest and exports from Canada lowers quotations in the US+0.4%
Oct 1, 2025ABARES lifts forecast as yield potential in northern NSW, Qld and WA increases | The Land | NSW+0.6%

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.

Wheat (SRW) WHEAT · GP ▸

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