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Coceral lowered its 2023 EU and British cereal harvest forecast to 296.7 million tonnes from 303.5 million, citing dry weather in northern Europe and Spain. The steepest cut was for drought-hit Spain, now seen at 11.9 million tonnes versus 20.8 million in March.
Lower EU barley and corn output tightens feed grain supplies and supports European and related world feed grain prices.
cde.newsCdeJun 12, 2023After 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.
