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French farmers started the wheat harvest early, with about 2% of the soft wheat area harvested by June 20, according to FranceAgriMer. The start was earlier than last year and ahead of the five-year average, which analysts linked to a hot spell accelerating crop ripening.
An early harvest brings earlier supply into the market, which can weigh on near-term wheat prices, though yield concerns from the heat limit the downside.
reuters.comJun 24, 2022After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
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.
