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Euronext wheat reached its highest front-month level since March 2008, with December milling wheat settling at 284.75 euros a tonne. Traders cited a lower-than-expected rating of US winter wheat, fertiliser supply tensions and North American drought concerns, alongside a brisk EU export pace.
Tight North American supply and strong European export demand push milling wheat higher, which raises feed grain costs for European and global buyers and supports corn and barley prices.
brecorder.comReutersOct 26, 2021After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 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.
Not enough comparable past events yet for a historical read.
After 425 past weather events, KWHEAT moved a median -0.2% over 5 sessions (48% higher; middle half -2.8% to +3.1%), 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.
