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The December JRC MARS Bulletin says winter crops are in fair to good condition across most of Europe. Dry weather from November to early December allowed farmers to advance sowing, though crops are underdeveloped in parts of Romania, Bulgaria, eastern Ukraine and European Russia.
Dry soils remain a concern in Sicily and the Maghreb.
Good winter crop conditions support expectations of a normal EU harvest, which is bearish for wheat and barley. Dryness in Sicily and North Africa could later raise import demand from the region.
joint-research-centre.ec.europa.euDec 16, 2024After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), 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.
