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Refinitiv analysts lowered their EU soft wheat forecast for 2024-2025 to 125.6 million tons, more than 2 million tons below the current season. The cut is attributed to lower-than-expected French wheat acreage caused by excessive rainfall that hampered fieldwork.
The lower EU soft wheat outlook tightens expected export supplies and supports wheat prices, which matters for feed buyers pricing wheat as a corn substitute.
tridge.comVictor LangatJan 2, 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.
