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The European Commission raised its 2022-23 EU corn import forecast by 1 million tonnes to 22 million tonnes, near a record, after cutting its corn crop to 54.87 million tonnes. EU sunflower seed imports have surged eightfold to 881,943 tonnes so far in 2022-23, with Ukraine supplying 87%.
Strong EU import demand for corn and sunflower seed supports Black Sea and Brazilian export prices and sunflower meal demand, while a drought-hit EU crop reduces domestic supply.
grainpricenews.comMike VerdinOct 27, 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.
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.
