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Coceral, in its first forecast for the 2019 crop, projects the EU total grain crop at 298.5 million tonnes, up from 280.2 million last year. Wheat is seen at 139.8 million tonnes, up from 127.4 million, while barley rises to 59.4 million and corn is roughly flat at 61 million.
Spain is expected to fall on dry weather, and the rapeseed forecast drops to 18.5 million tonnes.
A larger EU wheat, barley and corn crop adds exportable supply and eases feed grain prices in Europe and globally. The sharp rapeseed decline tightens the EU supply of rapeseed meal, which could support protein meal prices.
world-grain.comArvin DonleyMar 7, 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.
