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The JRC MARS November bulletin reports that unfavourable weather delayed winter cereal sowing across large parts of Europe. Heavy rain in western and northern Europe hampered fieldwork and sprouting, while dry conditions in the southeast led to poor sprouting.
Rapeseed sowing was completed under adequate conditions.
Late and poor establishment of winter cereals raises the risk of lower EU wheat yields and tighter exportable supplies, which supports wheat prices and feed grain alternatives.
joint-research-centre.ec.europa.euNov 28, 2023After 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.
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.
