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The JRC MARS October 2024 bulletin reports intense autumn rainfall disrupting ripening, harvesting and sowing across Europe. Yield forecasts for grain maize, sunflowers and soybeans were revised down at EU level, notably in Bulgaria, Romania, Hungary, Croatia and Italy, and winter cereal sowing is delayed.
Lower EU maize, sunflower and soybean yields reduce domestic feed supply, raising demand for imported corn, soymeal and sunmeal and supporting prices.
policycommons.netBIAVETTI Irene, BUSSAY Attila, CERRANI Iacopo, CLAVERIE Martin, DE PALMA PierlucaOct 28, 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.
Not enough comparable past events yet for a historical read.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 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.
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.
