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Unfavorable weather has reduced France's soft wheat harvest, which Agritel expects at 29.22 million tonnes, the lowest in 25 years. That is a 26% drop from the 2019 crop.
Crop quality is also expected to be low.
A much smaller French crop tightens EU milling wheat supplies and supports Euronext prices, which lifts feed wheat costs for European buyers.
world-grain.comHolly Demaree-SaddlerJul 27, 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.
