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Germany's agriculture ministry estimated its 2019 winter wheat crop at 22.71 million tonnes, up 15.9%, and all wheat at 23.03 million tonnes, up 13.7%. The rapeseed harvest is forecast to fall 21.9% to about 2.9 million tonnes after a large cut in plantings.
A bigger German wheat crop adds to EU supply and is bearish for wheat. The smaller rapeseed crop tightens EU oilseed supply, which supports rapeseed meal prices.
producer.comReuters News ServiceAug 29, 2019After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
