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COCERAL cut its EU total grain crop forecast to 299.1 million tonnes from 302.5 million, with wheat revised down to 138.8 million tonnes. Reductions were made for Germany, Scandinavia, the Baltics and Romania due to dryness, while France and Spain were raised.
Rapeseed was cut to 21.1 million tonnes and corn to 60.3 million.
Lower EU wheat, corn and rapeseed output tightens supplies for feed buyers and supports prices for competing feed ingredients like canola meal.
world-grain.comArvin DonleyJun 11, 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.
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.
