
FranceAgriMer raised its forecast for French soft wheat exports for the 2016/17 season to 11.075 million tonnes from 10.845 million. Barley exports are forecast at 5.187 million tonnes, while the corn export forecast was lowered to 4.6 million tonnes.
France also reported its first 2017 corn sowing estimate of 1.388 million hectares, 2.3% lower than last year.
Higher French wheat export availability adds supply to world markets and is mildly bearish for wheat, while lower corn exports and sowing are mildly supportive for corn.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.