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Mundus Agri reports that French wheat yields are lower than expected, although wheat quotations have fallen. US winter wheat harvest is 63% complete, Southern Russia's yields are 20% above last year, and China has signed its first deal for US soybeans.
Canada may replace Russia and Belarus as an EU rapeseed supplier.
Harvest progress and strong Russian yields add supply pressure on wheat, while the China soybean purchase supports US soy export demand and a possible shift in EU rapeseed sourcing favours Canadian canola.
mundus-agri.euJul 12, 2024After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
