Rural News Crop report pegs cut in global wheat production next year, but record stocks set to remain

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.

• Mar 2, 2017Global wheat production projected to drop - Brownfield Ag News-0.0%
• Jan 12, 2023USDA Releases January Crop Production, WASDE, Grain Stocks, Winter Wheat Seedings Reports-0.6%
• Mar 3, 2023Global cereal stocks falling in 2022/23; early prospects point to a decline in wheat production in 2023 – FAO-2.6%
• Jul 22, 2021India’s grain production to reach new record highs | World Grain-1.2%
• Jun 14, 2017ABARE crop report signals a 33 per cent fall in winter crop production | The Rural | Wagga Wagga, NSW+0.6%

After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% over 20.

• Mar 2, 2017Global wheat production projected to drop - Brownfield Ag News-1.8%
• Aug 17, 2021USDA slashes global wheat production - Grain Central-4.4%
• Jul 14, 2020Global wheat production on the decline - Grain Central-1.2%
• Sep 19, 2018Weather Continues to Affect Global Wheat Production - U.S. Wheat Associates+1.2%
• Jan 18, 2017US wheat stocks to remain high | VIC-2.3%