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France's agriculture ministry cut its 2022 grain maize crop forecast to 10.74 million tonnes, the lowest since 1990 and 29% below last year. Soft wheat was trimmed slightly to 33.66 million tonnes, while rapeseed and sunflower estimates were unchanged.
A sharply smaller French maize crop tightens EU feed corn supplies and supports corn import demand, which is bullish for corn prices.
world-grain.comJohn ReidyNov 8, 2022After 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.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
