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France's farm ministry raised its estimate of the 2023 winter soft wheat sowing area slightly to 4.76 million hectares, up from 4.75 million in December. It also lifted its winter rapeseed area estimate sharply to 1.34 million hectares from 1.29 million.
Barley area was raised as well, while durum wheat was unchanged.
A larger French wheat area points to more EU supply for 2023, which weighs modestly on wheat prices. The bigger rapeseed sowing adds to oilseed supply in Europe.
agriculture.comReutersFeb 14, 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.
