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EU wheat futures rose on July 20, with Paris Dec-22 closing at €327.00/t and UK Nov-22 at £267.00/t. Spring crops in Germany face yield and quality risk from hot, dry weather, while winter barley output is expected at 9 Mt.
EU wheat exports for 2022-23 are forecast at 35.5 Mt, up 6 Mt.
Strong expected EU export demand amid global wheat supply deficits supports European wheat prices and firms feed wheat values. Heat stress on spring crops adds upside risk.
ahdb.org.ukJul 20, 2022After 431 past bullish trade events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
