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Crop losses from European storms that dropped more than 200mm of rain in 48 hours in western areas have already pushed prices higher. Germany was among the hardest-hit countries.
The article reports that the hot crop market gained further support.
Storm damage to European grain crops reduces expected supply, which supports feed grain prices and encourages buyers to book forward cover.
farmersguardian.comCedric PorterJul 22, 2021After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
