Strategie Grains raised its EU 2017 wheat area forecast by 100,000 hectares to 24.3 million hectares. Its barley and grain maize area forecasts were unchanged at 12.4 and 8.8 million hectares, while durum fell 7%.
Stable-to-higher EU wheat plantings point to ample supply next season, which is mildly bearish for wheat prices and keeps feed grain costs contained.
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 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.