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Informa Economics forecast US corn area for 2018 at 91.415 million acres, above the prior 90.46 million. Strategie Grains put EU 2018 wheat area at 23.8 million hectares and EU corn area at 8.5 million.
Brazil's Parana corn crop is forecast down 38% year on year, and Ukraine's corn harvest was 78% complete at an average yield of 5.18 t/ha.
Larger expected US corn plantings are bearish for corn over the coming year, while a sharp Parana crop shortfall supports Brazilian corn demand for imports.
grainsprices.comGate.BGNov 20, 2017After 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 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
