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Grain Central reports Statistics Canada's first 2020-21 estimates show wheat output up 10.5% to 35.74 million tonnes, the second-largest crop on record, with barley at 10.55 million tonnes and oats up 6.1% to 4.5 million tonnes. Canola and soybean output are forecast to fall, while corn is expected to increase.
A large Canadian wheat, barley and oats crop adds export supply and pressures global feed grain prices, while lower canola and soybean output supports oilseed meal prices.
grainews.caPhil Franz-Warkentin, GFM Network NewsSep 26, 2020After 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.
Not enough comparable past events yet for a historical read.
After 72 past bearish report events, Oats moved a median +0.2% over 5 sessions (50% higher; middle half -3.7% to +3.8%), and -2.5% over 20.
Not enough comparable past events yet for a historical read.
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.
