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Heavy October rainfall across northern Europe has further delayed winter crop sowings, and MARS cut its EU maize yield estimate to 6.9 t/ha. EU maize, wheat and rapeseed prices were mixed to slightly lower over the week, while Chicago corn bottomed near $138/t under harvest pressure.
A lower EU maize yield estimate tightens European feed grain supply, but harvest pressure in the US and softer European prices limit upside for feed buyers.
farmersjournal.ieLorcan AllenOct 24, 2017After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), 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.
