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France's farm ministry lowered its 2024 soft wheat estimate to 25.78 million tons, down 27% from last year and the lowest since 1986. Barley was cut to 10.05 million tons, while grain maize was raised to 14.39 million tons.
A smaller French wheat and barley crop tightens EU feed supplies, while the higher maize forecast partly offsets corn tightness.
tridge.comVictor LangatSep 18, 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.
Not enough comparable past events yet for a historical read.
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.
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.
France's soft wheat estimate was cut to the lowest since 1986, reducing EU supply.
