Spoiler Alert: The French Are Winning
The European wheat harvest is coming to an end and it’s now time to see which country had a good year and which one fell behind. Recent data suggests that France has done quite well while Germany struggled.
It’s not difficult to understand why. Southern Europe has been especially dry while Northern Europe has been wet. The hot June has been kind to French wheat growers, but in Spain, Romania and Germany the weather has been anything but stable and droughts, frost, heavy rains and heatwaves resulted in heavy damages to wheat crops. This isn’t just about output, but also about quality.
How did the United Kingdom do? It’s a bit too early to conclude, but forecasts appear stable, suggesting a slight drop.
According to estimations, the total output of EU wheat is expected to rise by around 3.8% from last year’s harvest, which ended with an 11% drop.
While we already have some stats from the bloc’s largest producers, the harvest in Northern European countries including Denmark and the Baltic States is still underway.
Wheat price has been very volatile over the past few months, rising by over 33% between June 5th and July 5th and then crashing 31% by August 29th.
At iFOREX, you have the opportunity to trade wheat CFDs, as well as over 420 other CFD instruments – commodities, shares, ETFs, currencies, cryptocurrencies and indices. Follow the news and daily analysis to remain up to date with market changes and keep your eyes and ears open so you could spot opportunities.
Found this article interesting?
Want to see how quickly you can take your first steps in the world of online trading?
iFOREX has one of the most popular training packages.