ABARES projects world wheat prices to stay low in the short to medium term due to abundant supplies. It forecasts the 2017-18 world coarse grain indicator price (US No. 2 yellow corn, fob Gulf) at US$157 a tonne, unchanged from 2016-17.
Persistently low forecast prices and abundant stocks point to continued pressure on feed grain values for buyers.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.