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The International Grains Council estimates Saudi Arabia's 2019-20 wheat output at 700,000 tonnes, up from 500,000 tonnes, after reintroducing domestic production. Total grain imports are forecast at 14.8 million tonnes, with barley imports rising to 6.9 million tonnes and maize imports to 5 million tonnes.
Higher Saudi barley and maize import forecasts support demand for feed grains from exporters, while domestic wheat output reduces wheat import needs.
world-grain.comChris LyddonMar 17, 2020Not enough comparable past events yet for a historical read.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
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.
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.
