
Strategie Grains raised its 2017 EU soft wheat forecast to 143.9 million tonnes, 100,000 tonnes above its February estimate and 6% above 2016. Its barley forecast rose to 61.4 million tonnes, while its corn forecast fell by 0.9 million tonnes to 60.5 million tonnes on smaller areas in several member states.
Winter grain weather has been favourable after February and early March rains.
Higher EU wheat and barley supplies add pressure on feed grain prices, while the smaller corn crop gives modest support to corn values and EU feed import demand.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Not 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.
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.