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Grain Brokers Australia reports that a February cold snap swept across Europe, with some regions recording sub-zero temperatures and the lowest minimums in 50 years. Snow cover and winter hardiness largely protected crops, and warmer, wetter weather since then has lowered the risk of frost damage.
Limited frost damage means European winter crop output is not expected to fall much, which keeps wheat and barley prices under little upward pressure. Traders will watch spring conditions for any change.
farmonline.com.auGrain Brokers AustraliaMar 2, 2021After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
Not 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.
