
The European Commission forecast EU soft wheat production at 126.5 million tonnes for 2025/26, up 13% from a 12-year low of 111.8 million in 2024/25. It also projected rapeseed output rising to 19.0 million tonnes, barley up 5% and maize up almost 10%.
Stocks are still expected to fall to 7.3 million tonnes by end-2025/26 as exports rise.
A larger EU harvest is bearish for feed grain prices, but falling EU stocks and higher exports partly offset that pressure. Lower EU wheat and maize imports would reduce demand for Black Sea and other origin supplies.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
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.