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Strategie Grains forecast EU soft wheat sowings for 2023 at 21.67 million hectares, down about 110,000 hectares year on year, while expecting EU rapeseed area to rise to a five-year high. It also said yields could recover from drought-hit 2022 levels if fertilizer supplies are adequate.
Lower EU wheat area and possible yield recovery partly offset each other, while Ukraine's expected sharp area drop and fertilizer risks add support to wheat prices.
grainpricenews.comMike VerdinNov 18, 2022After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
