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France's farm ministry lowered its 2023 soft wheat estimate to 35.14 million tons from 35.59 million projected in August, still 4.3% above last year. It raised its grain maize forecast to 11.22 million tons from 10.89 million and gave a first sugar beet output estimate of 31.21 million tons, down 0.9% year on year.
A smaller French wheat crop tightens EU supply slightly, which supports wheat prices, while a bigger maize crop partly offsets that for feed corn buyers.
ukragroconsult.comSep 13, 2023After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% 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.
After 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.
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.
