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The International Grains Council lowered its global 2019/20 wheat crop outlook by 2 million tonnes to 762 million tonnes, still 29 million above last year. Most of the cut was in Australia, down 2.1 million to 17 million tonnes, with Argentina also under pressure.
A smaller southern hemisphere crop tightens global wheat supplies and supports export prices for feed and milling wheat buyers.
saskwheat.caOct 28, 2019After 497 past report events, Wheat (HRW) moved a median +0.2% over 5 sessions (51% higher; middle half -2.5% to +2.8%), and -0.3% over 20.
After 2,447 past report events, Wheat (SRW) moved a median +0.0% over 5 sessions (51% higher; middle half -1.5% to +1.8%), 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.
