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Coceral's first forecast puts EU grains output in 2023 at 282.5 million tonnes, up about 21 million from 2022 and near 2021's 287.8 million. The European Commission's Mars bureau said a cold snap around November 20 had tested autumn-sown crops, though frost damage so far has been minor, mainly in central and eastern Germany and Poland.
Expected recovery in EU supply would soften European grain prices, while frost risk to winter crops is a watch item that could firm prices if damage widens.
grainpricenews.comMike VerdinDec 19, 2022After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
