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The European Commission cut its 2017/18 EU barley usable production forecast to 59.5 million tonnes from 62.4 million, citing drought in Spain. It also lowered its maize forecast to 64.2 million tonnes and its common wheat forecast to 141.3 million tonnes.
A sharp cut to the EU barley crop and lower maize output reduce exportable feed grain supply, supporting European and global feed grain prices.
customstoday.mediaCT ReportJun 2, 2017Not enough comparable past events yet for a historical read.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
