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Coceral's third 2019 estimate puts the EU total grain crop at 304.9 million tonnes, up from 301 million in May and 281.5 million last year. Wheat is projected at 143.3 million tonnes, with France and the UK seeing the largest upward revisions.
Corn was cut to 61.6 million tonnes on hot, dry weather during pollination, and rapeseed was reduced to 17.3 million tonnes.
A larger EU wheat and barley crop adds exportable supply and weighs on European and world feed grain prices. The smaller corn and rapeseed estimates partly offset that pressure.
world-grain.comSep 20, 2019After 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 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
