In France, the largest Eurozone wheat producer, the proportion of wheat plants in good or excellent condition dipped four percentage points in the last reporting week after falling 2 points in the week prior, according to the EconoTimes.
The European grains traders’ association Coceral anticipates that EU soft wheat crop will come in at 140.6 million tons, compared to 148.3 million in 2014.
Additionally, the El Niño weather pattern is also expected to cut Australian wheat crops in 2015/16 season to an eight-year low.
Consequently, the International Grains Council has reduced its 2015/16 global crop forecast and projects elevated prices for wheat ahead.
Teucrium Wheat Fund
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