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COCERAL's second 2021 forecast put the EU-27 plus UK total grain crop at 306.8 million tonnes, slightly below its prior estimate. Wheat was cut to 141.5 million tonnes, while barley stayed at 61.5 million and corn was unchanged at 63.5 million.
The rapeseed forecast was trimmed to 17.7 million tonnes.
Lower wheat and rapeseed estimates trim expected supply, which slightly supports feed grain and oilseed meal prices. Corn and barley forecasts are unchanged, so the overall grain balance shifts only a little.
world-grain.comArvin DonleyMar 12, 2021After 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.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
