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FranceAgriMer reported that 93% of the French soft wheat crop had protein above the 11% milling requirement, above the five-year average of 87%. However, only 74% of the crop had test weights above 76 kg/hl, below the average of 79%.
Lower test weights shift lower-grade wheat toward the feed market, which can add supply to feed wheat while France remains the EU's largest wheat exporter.
ukragroconsult.comAug 25, 2023After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
