
Spain's agriculture ministry reported about 15 million tonnes of green forage output in 2025/26, 3% above the five-year average, with dehydrated forage down 12%. For 2026/27 it projects 525,000 hectares of forage crops, up 1%, with alfalfa flat at 211,679 hectares and vetch up 4.7%.
Stable alfalfa area and a recovering dehydrated alfalfa price point to firmer EU forage feed costs, while higher vetch and forage maize area may ease some roughage supply pressure.
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.