
Morocco announced measures for the 2026–27 agricultural season, including 1.3 million quintals of certified autumn cereal seeds subsidized by 50% and 500,000 tonnes of phosphate fertilizers. The plan also expands direct seeding and agricultural insurance programs and includes a national livestock-rebuilding program.
The previous season’s improved rainfall helped lift national cereal production to an estimated 90 million quintals.
Subsidized seed and fertilizer inputs could support cereal planting and production in Morocco, adding to local grain supply and weighing on prices if output rises. The production impact will depend on seasonal conditions and farmer uptake.
After 122 past bearish policy events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.
After 15 past bearish policy events, Wheat (HRW) moved a median -1.6% over 5 sessions (40% higher; middle half -3.7% to +3.1%), and +3.1% over 20.
Not enough comparable past events yet for a historical read.
After 49 past policy events, Oats moved a median -1.1% over 5 sessions (39% higher; middle half -3.3% to +2.7%), and -2.0% 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.