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Western European farmers are making progress in harvesting after a warm, dry spell, though heavy rain caused deadly floods in Germany and Belgium. Yields are not expected to be cut significantly, but rain has raised concerns about sprouting, disease and falling quality in wheat.
Durum quality may also have deteriorated.
Quality concerns in EU wheat could reduce export volumes of milling wheat and support prices. Lower-grade wheat moving to feed use would add supply to the feed market.
esmmagazine.comDayeeta DasJul 21, 2021After 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.
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.
