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The Western Producer reports that global wheat production is recovering after a year of comfortable supplies that sent prices sliding. Late crops in Canada and the U.S. face a possibly cooler-than-normal autumn, raising frost-damage risk.
Recovering world output keeps wheat prices under pressure, while late-season frost risk in Canada and the U.S. could tighten supplies and offer some price support. The net effect leans bearish with upside risk.
producer.comadminAug 29, 2019After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% 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.
