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The EU Joint Research Centre cut its summer crop yield outlook by 8 to 9% for grain maize, sunflowers and soybeans after continued hot and dry weather. Spain, southern France, Italy, Germany, Romania, Hungary and Ukraine were the most affected regions.
Lower EU maize and sunflower yields reduce feed grain and sunmeal supply, tightening European feed markets and supporting corn and sunflower meal prices.
joint-research-centre.ec.europa.euJul 25, 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.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
