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Agriculture and Agri-Food Canada raised its 2018/19 canola ending stocks forecast by 550,000 tonnes to 2.25 million tonnes. It lowered 2018/19 wheat ending stocks by 300,000 tonnes to 5.8 million tonnes.
Bigger canola carryout points to ample supply and bearish canola pricing, while tighter wheat carryout supports wheat values for feed buyers.
producer.comsaskatoonnewsroomJul 19, 2018Not enough comparable past events yet for a historical read.
After 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.
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.
