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Statistics Canada's final 2016 production estimates put all-wheat output at 31.7 million tonnes, about 1 million above pre-report expectations, with yields up 24 percent. Canola output of 18.4 million tonnes came in below the average trade guess but within the expected range.
Larger Canadian wheat supplies add to export competition and weigh on wheat prices, while smaller-than-expected canola supports oilseed and canola meal values.
realagriculture.comKelvin HeppnerDec 6, 2016After 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.
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.
