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Coceral cut its forecast for EU-27 and UK soft wheat production to 141.5 million tonnes from 143.0 million, citing lower sowings in Germany, Italy and Hungary. It also trimmed its EU+UK rapeseed forecast to 17.7 million tonnes and kept barley at 61.5 million tonnes.
All figures remain above the 2020 harvest.
A smaller EU and UK wheat crop tightens the export supply outlook slightly, which is mildly supportive for wheat prices. The cut is modest, and the crop is still well above last year, so the effect on feed costs is limited.
brecorder.comReutersMar 12, 2021After 769 past bullish report events, WHEAT 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.
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.
