World: Weekly analysis of the wheat market on March 22

Weather A new atmospheric front with precipitation will sweep across Europe next week starting this weekend. This will be favorable for wheat in most areas, but not in France, where another round of "too much rain" is expected. Ukraine and southern Russia will also receive much-needed moisture for crops, and storms in Australia will continue into next week, particularly in the Queensland region. The weakening of El Niño and the return of La Niña should favor Aussie autumns later in the year. A cold air front carrying snow is expected across the US Northern Plains next week, with rain also forecast for eastern wheat areas. Global market highlights MATIF wheat hit a one-month high (February 23) on downgrades for EU production as well as concerns over potential disruptions to Black Sea trade given recent hostilities. Despite competing Black Sea origins, European wheat is receiving good news from China, where wheat imports are expected to remain at record highs this year, rendering ...