Strategy Grains expects EU wheat harvest below 130 million tonnes

The French consulting firm Strategy Grains lowered its estimate for the European common wheat harvest to below 130 million tonnes (previous year: 132.4 million tonnes).
That would be the smallest harvest of common wheat in the 28er community since 2012.
Further details will first be discussed with his clientele before they are published. The restriction comes from Germany, Denmark and Sweden.
The crops in northern and central Europe had been decimated by drought and the heat of recent weeks. The current heat wave sends the prices of the Matif wheat futures to a 3-year high.
At the beginning of July, a survey of grain traders estimated that the French soft wheat crop in 2018 was 33.2 million tonnes four million tonnes smaller than in 2017. This was less than expected by the market and triggered the current rally on the futures exchange.
Text: HANSA Derivatives Trading GmbH /

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