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Strategy Grains cut its estimate of EU soft wheat exports for 2017/18 to 20.3 million tonnes, 900,000 tonnes below its March forecast and well below 24.2 million in 2016/17. For 2018/19 it expects 24.1 million tonnes, with France facing competition from Russia and Ukraine.
It also trimmed EU barley export estimates by 200,000 tonnes.
Lower EU export availability tightens supply for buyers outside the bloc, but cheaper Black Sea offers cap any rally. The net effect on wheat and barley prices is roughly neutral.
zmp.deApr 19, 2018After 206 past neutral trade events, WHEAT moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% 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.
