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The French farm ministry forecast soft wheat output at 32.90 million tonnes, down 2.54 million from 2021, partly due to heat and dry spring weather. Farmers also shifted more land to oilseeds, with rapeseed plantings at 1.21 million hectares, the largest since 2018.
Lower French wheat supply supports EU wheat prices, while the larger rapeseed area adds meal supply that could weigh on canola and rapeseed meal values.
grainpricenews.comMike VerdinJul 12, 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.
