The rains of the last few days in large parts of Europe prevented a significant loss of yield for wheat, but more rain is necessary if the field stands have to master their next growth phase.
The very dry start this spring stressed the wheat stocks in this country and was already feared that a smaller harvest would come together in the EU this year. Sowing last autumn was already problematic due to heavy rain.
Rain in the past few days pushed Matif wheat prices down to a six-week low as fear of drought damage in France and Germany proved unfounded. But now there has to be more rain, especially in Northern Germany, Central Europe and the Balkans, otherwise there is only small wheat yield. That is why the courses at Matif in Paris rose again.
For France, FranceAgriMer places only 57% of the wheat stocks in the top category "good-to-excellent". There is the lowest value in four years. The acreage was restricted there. It is the smallest common wheat area in France for 17 years. There is hardly any talk of drought there, but more about the difficult starting conditions last autumn.
In large parts of Germany, the rain of the past few days prevented a third dry year in a row. Now one assumes an average wheat harvest without top yields in this country. The harvest estimates are currently being reduced slightly and 22.3 million tons of wheat are still expected.
In Poland it was exceptionally dry from April to early May. Therefore, a harvest of over 11 million tons of wheat is expected there. Similar to the dry previous year. But that depends on the further weather development in May. 
Source
Hansa Terminhandel GmbH
