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Agritel cut its Romanian 2023 wheat crop estimate to 8.76 million tons from 10.4 million, citing a lack of May rainfall that is expected to reduce yields in the Constanta area by 20-25%. Late planting could also put spring corn at risk, while Constanta port faces long queues and high stocks.
A sharply smaller Romanian wheat crop tightens Black Sea wheat supplies and supports export prices, while possible corn planting delays add upside risk.
admis.comADMIS Research TeamJun 15, 2023After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
