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Turkey's TMO says the stronger lira has made locally produced corn, barley and wheat more competitive against imports. Rainfall has been adequate through April, though some Southeastern Anatolia areas may see losses from lack of rain.
Cheaper domestic grain reduces Turkish import demand, while expected harvest recovery could ease import needs and weigh on world prices.
millermagazine.comNewclick Dijital Reklam AjansıMay 8, 2018After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
Not enough comparable past events yet for a historical read.
After 69 past bearish macro events, Wheat (SRW) moved a median -0.5% over 5 sessions (35% higher; middle half -2.6% to +0.8%), 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.
