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November 2021 London feed wheat futures rose more than £6/t to just over £186/t, a new contract high. Dry weather in northern hemisphere wheat regions and Brazil's corn crop, plus a cold spell in the US, drove speculative buying.
Dryness across key growing areas and Brazil's corn threaten supply, keeping UK feed wheat and barley costs elevated. Buyers should anticipate continued firmness in feed grain prices.
fwi.co.ukSuzie HorneApr 24, 2021After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 1,465 past bullish weather events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
