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Argentina's wheat seeding was 98% complete, and its harvest reached 72%, ahead of the prior week. Strategie Grains cut its French soft wheat forecast to 37-37.5 million tonnes, citing disappointing yields in the northeast and lower falling numbers.
Argentine export shipments for July are running at about 3 million tonnes.
The French cut tightens EU wheat supply and quality, which supports wheat prices. Stable Argentine output limits the upside, so the net effect on feed grain prices is modest.
feedandgrain.comKevin McNewJul 23, 2021Not 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.
