Loading…
Floods across central Europe are cutting projections for next year's European grain and oilseed crops, after adverse 2024 weather left the region with some of its smallest crops in decades. COCERAL pegged combined EU and UK grain output at 280.3 million tonnes, about 16 million lower than its earlier estimate.
European rapeseed is trading at a sizeable premium to Canadian canola, and Canada has already shipped 42,300 tonnes out of Thunder Bay.
A smaller European wheat and rapeseed crop tightens supply for importers and draws demand toward Canadian canola and other exporters, supporting prices. The loss of Ukrainian export supply adds to the upward pressure.
manitobacooperator.caPhil Franz-WarkentinSep 27, 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.
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.
