Historic spring freeze impacts EU and US grain crops

DM

The intensifying Grand Solar Minimum is causing concern for new-crop grains supply, and is fueling the current rally. Across the global grain markets, sizable gains have been registered, with Chicago maize prices rising 18 percent over the past week, and UK feed wheat futures gaining 17 percent in the last 12 days. On Monday, the European Commission released its latest EU crop monitoring (MARS) report, detailing conditions to April 21. It reveals that the recent and long-lasting out-of-season freeze has delayed development of winter crops across the majority of the continent, while also delaying the sowing and emergence of spring drilled crops. As a result, further cuts have been made by the Commission to its forecast yields.

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