# MARS cuts earnings forecasts from the previous month

> 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.

- Date: 2019-07-22 · published 2019-07-22T12:00:00.000Z
- Category: weather · region EU · magnitude low
- Page: https://feedsoft.ai/events/58036-mars-cuts-earnings-forecasts-from-the-previous-month
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower European yield estimates tighten the EU crop outlook slightly, a modestly supportive factor for wheat and corn prices.

## Read by commodity

- CORN: neutral
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-06-27 | [EU Crop Monitor MARS lowers forecasts for wheat, barley](https://feedsoft.ai/events/70430-eu-crop-monitor-mars-lowers-forecasts-for-wheat-barley.md) | +3.2% | -2.8% |
| WHEAT | 2018-06-19 | [Wheat production forecasts diminishing \| The Land \| NSW](https://feedsoft.ai/events/64495-wheat-production-forecasts-diminishing-the-land-nsw.md) | -0.7% | -3.1% |
| WHEAT | 2018-09-11 | [Drought bites in the east as ABARES forecasts 12pc cut to grain production - ABC News](https://feedsoft.ai/events/62980-drought-bites-in-the-east-as-abares-forecasts-12pc-cut-to-grain-production-abc.md) | -7.4% | -7.0% |
| WHEAT | 2023-10-18 | [Current ENSO and IOD Conditions, Forecasts, and the Potential Impacts](https://feedsoft.ai/events/33547-current-enso-and-iod-conditions-forecasts-and-the-potential-impacts.md) | -1.9% | -3.8% |
| WHEAT | 2018-12-04 | [ABARES Cuts Crop Forecasts Again - Sharecafe](https://feedsoft.ai/events/61533-abares-cuts-crop-forecasts-again-sharecafe.md) | -0.3% | +1.5% |
| CORN | 2023-06-13 | [Coceral cuts EU 27 soft wheat production forecast to last year’s level](https://feedsoft.ai/events/35422-coceral-cuts-eu-27-soft-wheat-production-forecast-to-last-year-s-level.md) | +0.9% | -7.3% |
| CORN | 2016-12-09 | [Long-term forecasters rethinking weather prediction methods](https://feedsoft.ai/events/73406-long-term-forecasters-rethinking-weather-prediction-methods.md) | +2.4% | +0.4% |
| CORN | 2025-02-18 | [Wheat eases from 4-month highs, soybean flat - Markets - Business Recorder](https://feedsoft.ai/events/26078-wheat-eases-from-4-month-highs-soybean-flat-markets-business-recorder.md) | -4.4% | -2.4% |

## Sources

- zmp.de: https://www.zmp.de/en/futures/grains/news/market-report-mars-cuts-earnings-forecasts-previous-month-2019-07-22

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.