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Strategie Grains raised its EU soft wheat crop forecast by 1.7 million tons to 123.5 million tons, driven by Spain. It also lifted its EU barley forecast by 0.5 million tons to 53.0 million tons, though the soft wheat crop is still below last year's 126.1 million tons.
A larger EU crop trims import demand and supports a bearish tilt for wheat and barley, but the expected year-on-year fall and possible Russian downgrades keep the outlook supportive.
ukragroconsult.comMay 17, 2024After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
