
COCERAL cut its fourth 2021 forecast for the EU-27 plus UK grain crop to 312.6 million tonnes from 315.1 million. Wheat was lowered to 143.4 million tonnes and barley to 60.3 million, while the corn forecast was raised to 67.3 million tonnes.
Lower EU wheat and barley output tightens feed grain supplies and supports prices, while the higher corn crop partly offsets this in the feed mix.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
Not enough comparable past events yet for a historical read.
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.