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The European Commission's latest supply assessment puts the 2016/17 EU usable cereal harvest at about 294.6 million tonnes, with a sharply smaller wheat crop and maize around 60 million tonnes. EU grain exports are seen falling to about 35 million tonnes, largely due to the poor French wheat harvest.
Reduced EU exports and higher import needs for maize and quality wheat shift demand toward world suppliers, supporting global wheat and corn prices and feed grain costs.
zmp.deDec 26, 2016After 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.
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.
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.
