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The French corn harvest reached 89% of planted area in the week to November 25, behind 99% a year earlier and the five-year average of 98%. Corn crop conditions slipped to 75% good to very good.
Soft wheat sowing reached 93%, ahead of the five-year average, with crop conditions at 87%.
Slow French corn harvest progress and lower crop ratings point to a smaller or delayed supply, which is mildly supportive for corn. Good wheat planting is a neutral to bearish signal for the wheat outlook.
fastmarkets.comYana SukharskaDec 2, 2024After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
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.
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.
