Loading…
Strategy Grains cut its EU harvest estimates after a heat wave during the grain-filling phase, lowering its EU wheat forecast by 1 million tonnes to 140.7 million. The EU corn estimate was reduced by 1.2 million tonnes to 58.8 million, with damage concentrated in Spain and France.
Smaller EU wheat and corn crops tighten exportable supplies and support European and world feed grain prices. Heat damage during pollination and grain fill keeps a weather premium on EU-linked grain values.
zmp.deJul 13, 2017After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
