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COCERAL's first 2018 forecast puts EU total grain output at 302.5 million tonnes, up from 299.9 million last year. Wheat is seen falling to 140.5 million tonnes, while barley rises to 60.3 million and corn to 61.7 million.
A larger EU barley and corn crop adds exportable and feed supply, which is bearish for feed grain prices. The lower wheat forecast is mildly supportive for wheat.
world-grain.comArvin DonleyMar 9, 2018Not 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.
After 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.
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.
