French soft wheat crop rating falls as harvest slow
Wheat futures saw modest gains on Friday, with Chicago futures up 6 to 8 cents, Kansas City contracts rising 4 to 6 ½ cents, and MPLS spring wheat gaining 6 to 8 ½ cents. The USDA report shows U.S. wheat export commitments at 7.76 MMT, 35% of the annual projection. FranceAgriMer reports that 52% of French soft wheat is in good or excellent condition, down from 57% a week earlier and 80% last year. Harvesting progress is behind the five-year average.
July 19 (Reuters) -The condition of French soft wheat crops fell sharply last week to an eight-year low and harvesting remained well behind the usual pace, data from farm office FranceAgriMer showed, as rain fell in already soggy grain belts.
An estimated 52% of soft wheat was in good or excellent condition by July 15, down from 57% a week earlier and 80% a year ago, FranceAgriMer said in a cereal report.
That is below the score at the same point in 2020, another year marked by heavy rain, and the weakest reading since 2016 when France reaped its smallest wheat crop since the 1980s.
Months of heavy rain and below average sunshine have disrupted planting and crop development in the European Union’s biggest grain producer.
Showers and overcast conditions last week kept many fields soggy, though a hot spell this week is expected to help crops ripen and accelerate harvesting.
By Monday, 14% of the soft wheat area had been cut, compared with 4% a week earlier.
The same time a year ago, 51% of the area had been harvested and the five-year average is 43%, FranceAgriMer said.
Source Link : https://www.xm.com/research/markets/allNews/reuters/french-soft-wheat-crop-rating-falls-as-harvest-slow-53884343
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