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The European Commission forecast the 2024 EU cereal harvest at 278.82 million tonnes, 9 million tonnes below 2023 and 0.8% below the five-year average. Soft wheat is put at 120.75 million tonnes, down 4%, while barley is forecast at 53.71 million tonnes, up 4.46%.
Durum wheat is forecast down 10.86%.
A lower EU wheat crop tightens supply for feed and milling wheat buyers, supporting prices. Higher barley output eases feed barley availability.
tridge.comFoodmateApr 3, 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.
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.
