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The International Grains Council projects a slight fall in 2017 world wheat area, and flags scope for a larger decline. It says a poor profits outlook could lead some farmers to abandon spring wheat sowings amid debate over Russian prospects.
Lower expected wheat area and Russian crop uncertainty could tighten export supplies later in the year, supporting wheat prices.
zmp.deFeb 23, 2017After 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.
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.
