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A Farmers Weekly analysis says there is little sign of significant grain price gains in the coming months. A mid-August USDA report showed a smaller-than-expected cut in US corn acres and a yield increase, while Ukrainian corn output rose to a record 36.5 million tonnes and global wheat stocks are expected to rise by about 10 million tonnes.
Large global supplies and rising carryout stocks point to continued downward pressure on grain prices, favouring buyers who can wait before purchasing.
fwi.co.ukAndrew MeredithAug 29, 2019After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
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.
