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Analysts say the EU winter wheat crop has started poorly, with planting in France delayed by excess moisture and seeded area seen falling about 5%. Rain was 200 to 400 percent of normal across major European grain areas for the 30 days to December 6, following cyclone Cieran.
French crop ratings are declining because of poor establishment and little sunshine.
Delayed planting and weaker crop ratings in the EU's largest wheat producer raise the chance of lower yields, which supports wheat prices. Current drought concerns are minimal, so the effect is limited while prices remain in a bear market.
ukragroconsult.comDec 15, 2023After 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.
