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GoodMills estimates EU-28 wheat production at about 135 million tonnes, down from 147 million in 2023, with yields down about 4% and area down nearly 5%. Wet conditions in western Europe and dryness in central and eastern Europe also reduced protein levels and test weights.
Lower EU output and weaker milling quality tighten the supply of higher-grade wheat, supporting prices for milling and feed-grade wheat alike.
ewn.co.zaAFPAug 9, 2024After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
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.
