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COCERAL's first 2021 forecast puts the EU-27+UK total grain crop at 307.4 million tonnes, up from 295.7 million in 2020. Wheat (excluding durum) is projected to rise from 127.9 to 143 million tonnes, led by France, Germany, the UK and the Balkans.
Barley is seen slipping to 61.5 million tonnes, and the rapeseed crop is forecast to recover slightly to 17.8 million.
A larger EU wheat crop adds exportable supply and weighs on world wheat prices. Lower barley output tightens that feed grain's supply and supports its price.
world-grain.comArvin DonleyDec 9, 2020After 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.
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.
