Loading…
Warm June weather after rain has helped European wheat recover from a cold, dry spring. Forecasters have raised EU and UK soft wheat estimates, with Coceral seeing the combined crop up nearly 14% from 2020.
Analysts flagged rain-related quality risk in Romania.
A rebound in EU and UK wheat output adds exportable supply and tends to weigh on world wheat prices. Quality concerns could limit how much of the crop qualifies for milling and higher-value feed use.
ctrmcenter.comDr. Gary M. VaseyJun 4, 2021After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
