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Traders and analysts report that Europe's unusually warm winter has given the 2019 wheat crop good initial conditions, with little frost damage in top producing regions. France's soft wheat sowings are estimated up 2.9% at 5.0 million hectares, and German winter wheat sowings rose 4.6%.
Analysts note that frost and spring dryness remain risks.
Good early crop conditions and larger sowings point to a bigger EU wheat harvest, which would replace supplies after last year's poor crop and weigh on wheat prices. Any late cold snap would reverse this and support prices.
checkout.ieDonna AhernMar 10, 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.
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.
