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The March 2019 FAO-AMIS market monitor forecasts 2019 world wheat production at 757.4 million tonnes, 29 Mt above 2018 and close to the 2017 record. The rebound is driven mainly by the EU, with output up at least 8%, and by Russia, where production could rise almost 10%.
Ukraine is forecast up nearly 8% and Canada about 4%.
A large global wheat rebound adds supply to export markets, which pressures wheat prices and competes with feed grains. Larger Black Sea and EU exports would weigh on wheat values through the 2019/20 marketing year.
graincentral.comMar 8, 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.
After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% 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.
