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The IGC's first full 2019-20 supply and demand forecast projects global wheat output rising to 759 million tonnes, up 24 million. Closing wheat and coarse grain stocks are forecast to fall 29 million tonnes to 575 million, mainly due to corn.
Projected stock drawdown from higher consumption tightens the balance sheet, which is supportive for feed grain prices, though the production increase offsets part of the concern.
graincentral.comGuest AuthorApr 1, 2019
queenslandcountrylife.com.auGrain Brokers AustraliaApr 1, 2019After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
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.
