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The Ukrainian maize harvest was revised up by 1 million tonnes to 35 million, and China is in talks with Ukraine on increased imports. Argentine wheat production was revised down from 19.4 to 18.7 million tonnes, and barley was cut by 0.5 million tonnes to 4 million due to frost.
A larger Ukrainian corn crop adds export supply and pressures corn prices, while smaller Argentine wheat and barley crops support those markets.
ifa.ieDec 14, 2018After 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 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.
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.
