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A weekly wheat outlook reports that the International Grains Council cut its 2019/20 world total grain production forecast by 8 million tonnes to 2,148 million tonnes. The reduction came mainly from lower Chinese maize and US sorghum output.
A smaller world coarse grain crop tightens supply for feed grains and supports corn and wheat prices, especially for feed buyers who depend on maize and sorghum.
saskwheat.caJul 29, 2019After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
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.
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.
