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Heat has damaged French wheat crops, and analysts including Agritel have lowered French soft wheat forecasts to 36-37 million tonnes. Rain is helping crops in northern Europe.
Strategie Grains cut its EU soft wheat estimate by 1.1 million tonnes to 141.6 million.
A smaller French and EU wheat crop tightens export supplies from the largest EU grower and supports wheat prices, which feed into feed grain costs.
reuters.comJun 20, 2017After 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.
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.
