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Eurostat reports EU farm-gate agricultural prices fell 9% in Q3 2023 versus Q3 2022, with cereal prices down about 32% and milk down 15%. Input prices not related to investment dropped 11%, signaling a settling of global agricultural markets.
Lower EU cereal and milk prices reflect easing post-disruption markets, supporting cheaper feed inputs for buyers. The data is backward-looking and confirms an existing trend.
ec.europa.euDec 20, 2023Not enough comparable past events yet for a historical read.
After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.
After 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.
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.
