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Coceral raised its 2019 EU grain harvest forecast to 301 million tonnes from 298.5 million in March, versus 281 million in 2018. Wheat was put at 140.3 million tonnes, barley at 59 million and maize at 62.9 million, while oilseed rape was cut to 17.9 million on a sharp French reduction.
Larger expected EU grain and maize supplies are bearish for feed grain prices, while the smaller rapeseed crop supports canola meal and oilseed prices.
farmersjournal.ieStephen RobbMay 27, 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 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
