The European forecast system MARS (monitoring agricultural ResourceS) has just published its estimate for the average wheat yields. Then, the earnings forecast is lifted by June by 6.07 ton per hectare to 6.1 ton per hectare. That would be 2.9% less than the average earnings of the previous year but 4.6% more than the five-year average.
French wheat yields, which suffered particularly heavy rain in May and June, is now estimated by the MARS 7.37 tons per hectare; in the previous month, there were still 7.45 tons per hectare and in 2015 it was 6.9% more. The last estimate differs from the five years average only 0.5%.
Immediately after the announcement of the numbers, the wheat prices on the MATIF came under pressure.
