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StrategieGrains raised its 2017/18 EU barley crop forecast to 61.3 million tonnes and its corn forecast to 61.4 million tonnes, while leaving the soft wheat forecast unchanged at 143.8 million tonnes. Barley export forecasts were cut to 7.8 million tonnes from 8.7 million.
A larger EU barley and corn crop adds exportable supply, which tends to weigh on world feed grain prices, while the cut in barley exports signals less competition for overseas buyers.
zmp.deFeb 16, 2017Not enough comparable past events yet for a historical read.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
