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European wheat closed the week higher, with Paris December futures up 0.5% at €233.50/t, supported by tight global supplies and strong export demand. French planting was delayed by rain, with 62% of soft wheat sown by October 30 versus a five-year average of 72%.
Argentina's wheat crop forecast was cut 5% to 15.4 million tonnes on frost and drought.
Tighter global wheat supply and slow French planting support EU wheat prices, although aggressive Black Sea export competition limits the upside for European feed wheat.
ukragroconsult.comNov 7, 2023Not 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.
