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Nidera Australia's Peter McMeekin reports that the northern hemisphere winter crop has come out of dormancy in good condition. French wheat was rated 92% good to excellent and barley 88%.
Early snowmelt and spring rain have so far avoided moisture deficits, though a late cold snap could still damage exposed crops.
Good crop ratings in Europe limit the need for import demand, which keeps feed wheat and barley prices under mild pressure unless spring weather turns adverse.
graincentral.comGuest AuthorMar 14, 2017After 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.
Not enough comparable past events yet for a historical read.
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.
