
COCERAL's fourth 2023 forecast puts the EU-27 plus UK cereal harvest at 289.8 million tons, down from 296.7 million in June, due to early drought in northern Europe. Wheat is seen at 141.0 million tons, barley at 54.7 million and corn at 60.8 million, with rapeseed at 20.4 million.
A smaller EU cereal crop than earlier forecast reduces exportable supply and supports feed grain prices, particularly barley and wheat.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.