The IGC forecasts 2019/20 world total grains output rising 1% to 2,159 million tonnes, with a record wheat crop of 764 Mt and a smaller maize crop. Global grain stocks are expected to fall for a third season to a four-year low of 598 Mt, led by lower maize inventories.
Tighter global maize stocks and falling maize trade support corn prices, while abundant wheat and barley weigh on those markets. Feed buyers should expect firmer coarse grain costs into the new crop year.
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.
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.