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Unseasonably warm weather across much of Europe in late December and January reduced snow cover and woke winter grain crops from dormancy. Crops are now more exposed to a sudden cold snap, though damage so far has been minimal.
Farmers fear a repeat of the 2011-12 frost losses in France.
A late hard freeze could cut European wheat and barley yields, which would tighten EU supply and support prices. For now the risk is only a potential one.
ukragroconsult.comFeb 1, 2023After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Not 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.
