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The European Commission cut its EU soft wheat forecast to 127.2 million tonnes from 127.7 million, while keeping the export outlook at 30 million tonnes. It also trimmed EU canola import projections to 5.7 million tonnes, and barley output was raised slightly.
Wet weather and quality problems in the EU reduce milling wheat supply, though the export outlook is unchanged, so the effect on world prices is moderate. Lower EU canola imports reduce demand for imported canola meal and oilseeds.
graincentral.comGuest AuthorAug 30, 2021After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
