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Rain in the four largest EU wheat producers eased dryness concerns after a dry spring. In France, 79% of soft wheat was rated good or excellent, and German cooperatives forecast the 2019 wheat harvest up 19.8% to 24.28 million tonnes.
Improved EU crop prospects add supply expectations for wheat and feed grains, which can pressure wheat and corn prices versus last year's drought-hit crop.
checkout.ieDonna AhernMay 20, 2019After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
