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Consultancy Agritel raised its French soft wheat crop estimate to 33.63 million tonnes but warned the French corn harvest is heading for its smallest of the 21st century at 10.8 million tonnes. Heatwaves and France's worst drought on record hurt maize.
Agritel also said the unusually fast French wheat export pace is unsustainable, leaving end-season stocks at a very low 2.2 million tonnes.
A sharply smaller French corn crop cuts EU feed grain supply and supports corn prices, while tight French wheat stocks support wheat export values.
ukragroconsult.comSep 2, 2022After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 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.
