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Agritel, the analytics arm of Argus Media, estimates France's 2023 soft wheat crop at 34.82 million tonnes, up from 33.69 million last year and 1.3% above the five-year average. Yields are forecast at 7.3 t/ha on 4.77 million hectares.
The estimate is below earlier expectations after frost in April and dry weather from mid-May to mid-June.
A crop above average but below earlier forecasts leaves EU wheat supply only moderately tighter, so the price effect is limited. Buyers should watch whether further harvest losses or export demand shift the balance.
ukragroconsult.comJul 28, 2023After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
