Loading…
Strategie Grains says wheat and barley prices may be approaching a floor after a steep price rout, with livestock producers expected to use more wheat in feed rations at the expense of corn. EU wheat use for animals is set to reach a two-year high, and barley demand is also expected to rise.
Strategie raised its Russian wheat crop forecast to 80 million tons, above USDA's 77 million.
Stronger feed wheat and barley demand in the EU supports prices at lows, but a larger Black Sea crop and heavy corn stocks cap any rally.
moneyweb.co.zaMegan Durisin, BloombergMay 16, 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.
Not enough comparable past events yet for a historical read.
After 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.
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.
