
A Reuters poll of analysts projects the 28-country EU soft wheat crop at about 136 million tonnes, roughly 4% below 2017's 141.8 million. Hot, dry spring weather in northern Europe and late signs of crop damage in France prompted the downgrade.
Strategie Grains had cut its French forecast by 4.6 million tonnes.
A poll-based expectation of a smaller EU crop supports wheat prices and raises feed wheat costs for European and import-dependent buyers.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% 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.