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Wet weather across Europe has hurt sowing, emergence and development of winter crops in western, northern and parts of eastern Europe. Heavy rain has also continued to delay spring sowing in some regions.
UK feed wheat futures for May 2024 closed at £170.25/t, down £1.15/t on the day.
Persistent wet weather lowers European yield expectations, which supports wheat prices. Daily moves were small, so the effect on prices is limited for now.
ahdb.org.ukApr 10, 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.
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.
