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Analysts preview Statistics Canada's first 2019-20 production estimates, noting that AAFC figures already fall within pre-report trade expectations. The article also reviews historical price moves in canola, spring wheat and oat futures on report days.
Expectations are for no major surprise, so the report is unlikely to shift grain prices much, though the USDA's recent revisions have raised doubts about the data.
dtnpf.comCliff JamiesonAug 27, 2019Not enough comparable past events yet for a historical read.
After 35 past neutral report events, Oats moved a median +0.2% over 5 sessions (51% higher; middle half -1.9% to +2.5%), and -1.2% 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.
Statistics Canada's first 2019-20 production estimates were due around Aug 27-28, and report-day positioning in oat futures could plausibly have driven a sharp move via supply-expectation repricing.
