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The Southeast AgNET article summarizes the USDA January WASDE, noting a 29 million bushel increase in projected U.S. wheat ending stocks and a 2017/18 global wheat production increase of 1.8 million tonnes. It also describes December weather, including La Niña-driven dryness and cold stress on Plains winter wheat.
Higher global wheat output and U.S. stocks are bearish for wheat prices, while Plains dryness and cold stress on winter wheat are a modest support factor for feed buyers to watch.
southeastagnet.comDanJan 13, 2018After 1,006 past bearish report events, WHEAT 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, KWHEAT 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.
