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France's farm ministry cut its soft wheat harvest estimate to 35.1 million tonnes, down 1 million from July and 4 percent below 2017. It also forecast grain maize output at 12.8 million tonnes, down almost 10 percent from last year, citing heatwaves, storms and harvest rain.
As the EU's largest grain producer, France's lower wheat and maize crops tighten European feed grain supply and support higher wheat and corn prices, raising feed costs for buyers.
esmmagazine.comSteve Wynne-JonesAug 8, 2018After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
