Loading…
The EU's MARS monitoring cut its July yield estimates by 0.5% for cereals after a June heatwave, with wheat down 1%. Spain's wheat yields are seen 27% below last year, while maize is still expected 0.4% higher than the prior month.
Lower European yield estimates tighten the EU crop outlook slightly, a modestly supportive factor for wheat and corn prices.
zmp.deJul 22, 2019After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 445 past neutral weather events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
