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Unfavourable weather has affected EU grain production through the 2023/24 season. Excess rain since autumn hindered planting and development of winter crops in large parts of western, northern and eastern Europe.
Rainfall deficits persisted in eastern Romania and Bulgaria, where winter rapeseed is the worst affected.
Lower European winter crop yields and resowing of northern fields tighten wheat and barley supply, supporting prices. Drought in the east adds to the downside risk.
grainbrokers.com.auApr 19, 2024After 1,072 past bullish weather events, WHEAT 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.
