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France's soft wheat crop condition held steady for a second week, with 56% rated good or excellent as of June 8, unchanged from the prior two weeks. The rating is well below 80% a year earlier and the lowest since the 2011 drought.
Recent rain and cooler June weather have brought some relief after a second-hottest spring on record.
Poor French crop ratings signal reduced EU wheat supply, which is supportive for wheat prices, though stabilization limits the upside.
brecorder.comReutersJun 12, 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.
