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The MARS report from the European Commission shows May rainfall arriving in time for EU wheat, barley and rapeseed, with soft wheat yields estimated at 6.10 t/ha, 2.7% above the five-year average. Spain remains dry and France was revised down after storm-related lodging, while rapeseed is expected to be the smallest harvest in over a decade.
A near-average to above-average EU wheat crop is bearish for prices, while the small rapeseed outlook and Spanish drought are supportive for oilseed meal and oil.
en.boerenbusiness.nlNiels van der BoomJun 18, 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.
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.
