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Grain Central reports that a drought-hit European summer and dry autumn have delayed winter crop seeding across northern France, Belgium, Germany, Poland, the Czech Republic and the Balkans. EU rapeseed area may be down as much as 8%, with farmers switching to wheat.
A smaller EU rapeseed area reduces oilseed supply and supports vegetable oil and meal prices, while more EU wheat area is a partial offset for wheat markets.
graincentral.comGuest AuthorOct 30, 2018Not enough comparable past events yet for a historical read.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
