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The European Commission's EU Agricultural Outlook estimates usable EU cereal production for 2016/2017 at 294 million tonnes, 2.5% below the five-year average. Soft wheat and maize yields are expected to fall 3.1% and 11% versus the five-year average due to adverse weather.
A smaller EU crop with lower milling wheat quality and weaker export volumes tightens European supply and supports feed grain and wheat prices, while higher maize imports add demand for world supplies.
agriland.ieSeán CumminsDec 24, 2016After 1,072 past bullish weather events, WHEAT 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.
