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Strategie Grains estimates EU-27 soft wheat area for the 2024 crop at 0.9% below 2023 because of heavy rain, which has brought French sowing close to a halt. It warns yields could fall short of potential, as in 2020, especially in France.
The consultancy raised its 2023 maize estimate to 61 million tonnes.
Lower planted area and possible yield shortfalls point to smaller EU wheat supplies in 2024, supporting feed wheat prices, while a larger maize crop partly offsets feed grain tightness.
ukragroconsult.comNov 20, 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.
After 357 past bearish weather events, CORN moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
