European Grains Rally on USDA Forecast Cuts

European corn futures surged in Paris for the first time in four days following the US Department of Agriculture's revised outlook. The agency significantly lowered its corn supply forecast to 48 million tons, signaling tighter market conditions. Wheat futures also rose as the USDA trimmed its estimates, reflecting smaller harvests that are reducing available supplies. The adjustments come amid growing concerns over global grain availability, prompting increased buying activity. Analysts suggest the revised forecasts are creating short-term volatility, with traders positioning for potential price increases ahead of the harvest season.