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In its June report, the EU's MARS crop monitoring service lowered yield forecasts for soft wheat, corn and rapeseed, citing excess rain in the Benelux, western Germany, northeastern France and northern Italy. The revised estimates still sit at or near the five-year average, while barley yield was raised slightly.
Trimmed EU yield expectations tighten the export outlook for wheat and corn, though the crop is not far from normal, so the price impact is modest.
ukragroconsult.comJun 25, 2024After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 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.
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.
