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France's farm ministry raised its 2024 soft wheat estimate to 25.6 million tons from 25.4 million, still 27% below 2023 and one of the smallest crops since the 1980s. It raised its maize forecast to 14.6 million tons while cutting sunflowerseed and sugar beet estimates over lower expected sugar content.
Heavy rain cut France's wheat area and yields, so the small crop keeps EU wheat supplies tight and supports feed wheat prices. The maize upgrade is a modest offset for corn buyers.
brecorder.comReutersNov 13, 2024After 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.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
