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COCERAL's second 2023 forecast puts the EU-27 plus UK grain crop at 303.5 million tonnes, slightly below December's 304.4 million but well above 2022's 290.7 million. The corn forecast was cut to 62.3 million tonnes, while wheat was raised to 144.5 million and barley trimmed to 59.6 million.
A larger EU crop than 2022 adds exportable supply and eases feed grain tightness, though the cut to corn and barley forecasts limits how bearish the outlook is for feed buyers.
world-grain.comArvin DonleyMar 24, 2023After 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.
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.
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.
