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Europe's farmers are facing more crop losses as continued heavy rain delays winter planting after rotting and diseased crops remained in some fields. France recorded its worst wheat harvest in decades, and the wet weather could extend losses into a second year.
Persistent wet weather and delayed winter sowing in the EU and France tighten feed grain supplies, supporting wheat and corn prices and raising import demand.
bloomberg.comCelia BerginNov 1, 2024After 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.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
