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Reuters reports that the EU wheat harvest focus is shifting to Germany after a poor French crop. France's crop is now expected to fall about a quarter from last year to 29-30 million tonnes after torrential autumn rain cut sowings and spring drought hurt yields.
Weather-hit crops in Romania and Britain add to the shortfall.
A sharp drop in EU wheat output reduces export availability and supports world wheat prices as buyers look to Black Sea and other origins.
reuters.comAug 7, 2020After 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.
