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Statistics Canada data show Canadian farmers planted 3.04 million hectares of barley in 2020, the most since 2009 and 1.4% above last year, with 102,000 hectares more than intended in the March survey. Chicago corn and wheat futures rose ahead of USDA acreage and stocks reports.
Larger Canadian barley acreage adds to global supply for 2020/21, which could pressure feed barley prices. Corn and wheat prices also moved on speculative repositioning rather than new fundamentals.
ahdb.org.ukJun 30, 2020Not enough comparable past events yet for a historical read.
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.
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.
