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European ex-farm wheat values fell about £2/t on 30 August, tracking lower futures, with spot prices between £110/t and £120/t. The decline followed good crops in producer countries such as Russia, huge expected US wheat and maize crops, and Defra data showing UK wheat stocks at a record high of 2.7m tonnes.
Large export supplies from Russia and the US and high UK carry-in stocks weigh on wheat prices and reduce the cost of feed wheat. Slow ex-farm sales suggest sellers are holding, which could limit how far local prices fall.
fwi.co.ukSuzie HorneAug 30, 2016Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
