Loading…
The EU Commission's June estimate puts 2019/20 EU cereal output at 311 million tonnes, up 7.1%, but analysts consider it optimistic given the record heat. Concerns were also raised that Russia will gain export market share from the EU.
A possibly overstated EU crop and rising Russian competition in exports point to weaker EU export demand and softer wheat prices.
mundus-agri.euJul 10, 2019After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% 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.
