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The European Commission's short-term outlook projects 2023/24 EU cereal production up 8.4% to 287.9m tonnes, with maize at 65.0m tonnes and soft wheat at 130.9m tonnes. EU imports are forecast to fall 25% to 26m tonnes while exports could rise 8%.
A larger EU crop and sharply lower import needs reduce demand for world feed grains, pressuring corn, barley and wheat prices.
farmersjournal.ieAmy FordeApr 6, 2023After 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.
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.
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.
