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The Sask Wheat weekly outlook for April 1, 2019 cited IGC March figures, which left 2018/19 world wheat production unchanged at 735 million tonnes. Trade was raised 1 million tonnes to 171 million, and consumption was cut 2 million to 742 million.
World carryout was estimated at 264 million tonnes.
A slightly larger world carryout and higher trade point to ample global wheat supplies, which keeps downward pressure on prices and keeps wheat competitive in feed rations.
saskwheat.caApr 1, 2019After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
