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The EU Joint Research Centre's March MARS Bulletin says winter crops entered spring in fair to good condition across most of Europe after a mild winter. Drought persists in south-western Europe, the Maghreb, and parts of Italy and Ukraine, with crop failure reported in parts of Morocco.
Drought in Iberia and North Africa threatens yields and could add to import demand for feed grains, supporting European and Mediterranean cereal prices.
joint-research-centre.ec.europa.euMar 21, 2022After 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.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
