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The European Commission slightly cut its 2021/22 soft wheat usable production estimate to 130.5 million tonnes from 130.6 million. It kept EU wheat exports at 32.0 million tonnes and raised end-season common wheat stocks to 13.3 million tonnes from 12.9 million.
Its maize production forecast was trimmed to 69.0 million tonnes.
Higher EU wheat carryout stocks and unchanged export projections suggest ample European supply, which weighs mildly on wheat and corn prices. The change in crop size is small, so the market impact is limited.
ukragroconsult.comJan 28, 2022After 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.
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.
