A weekly Saskatchewan wheat outlook reports that the latest USDA report lowered 2016/17 world wheat production by 4.5 million tonnes, mainly on reductions in India. The report also lists primary elevator bids and export FOB prices.
A downward revision to world output tightens the global wheat balance, which modestly supports wheat prices and feed wheat competitiveness.
After 497 past report events, Wheat (HRW) moved a median +0.2% over 5 sessions (51% higher; middle half -2.5% to +2.8%), and -0.3% over 20.
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.