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The French agriculture ministry raised its 2024 soft wheat area estimate to 4.40 million hectares, still 7.5% below last year. Maize area is seen rising nearly 10% as farmers shift toward spring crops.
A larger French maize area adds to EU corn supply later in the year, which is mildly bearish for corn, while the smaller wheat area supports a firmer wheat balance.
reuters.comMay 15, 2024After 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.
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.
