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Statistics Canada's first 2019/20 estimates show wheat production falling 2.9% to 31.25 MMT and canola falling 9.3% to 18.45 MMT, the lowest in four years and about 1 MMT below trade expectations. Spring wheat output rose while durum and winter wheat fell sharply, and soybean and corn output also declined on adverse weather.
A smaller Canadian canola and wheat crop than expected tightens supplies, supporting prices for canola and wheat in export markets.
grainbrokers.com.auOct 17, 2019Not enough comparable past events yet for a historical read.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
