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India's summer food grain output is forecast at 134.67 million tonnes, up 2.8%, with rice down 2% to 94.48 million tonnes. Novorossiysk exported 409,208 tonnes of grain in the week of September 18-24, including 321,000 tonnes of wheat, and an Egyptian prosecutor ruled that Romanian wheat contaminated with poppy seeds must be cleaned.
A lower Indian rice crop could tighten Asian rice supply and support prices, while steady Black Sea wheat shipments keep export competition firm. The Egyptian contamination case is a minor quality-related trade issue.
grainsprices.comGate.BGSep 26, 2017grainsprices.comGate.BGSep 27, 2017After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
After 189 past bullish trade events, Rough Rice moved a median +0.2% over 5 sessions (52% higher; middle half -1.7% to +2.4%), and +1.0% 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.
