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Strategie Grains raised its 2021 EU soft wheat production forecast to 131.1 million tonnes from 129.6 million and lifted its 2021/22 EU soft wheat export forecast to 28.6 million tonnes. It also raised its EU barley and maize crop estimates on good growing weather.
A larger EU crop and stronger export competitiveness add supply to world wheat and barley markets, which is bearish for prices. Higher EU maize output also eases feed grain supply.
ukragroconsult.comJun 11, 2021After 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.
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.
