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A GrainsWest outlook says 2019/20 wheat setup is reasonable, with global stocks near record at about 270 MMT but much held by China. Exporter stocks are expected to be drawn down after smaller 2018/19 crops in Russia, the EU and Australia.
Tightening exporter stocks could support wheat prices later in the marketing year, though high global stocks limit upside.
grainswest.comtommy wilsonMar 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 40 past neutral report events, Wheat (HRW) moved a median -0.9% over 5 sessions (38% higher; middle half -3.1% to +1.6%), 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.
