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UK feed wheat futures rose after US production cuts and lower-than-expected US stocks pushed global wheat higher. Fertiliser prices also climbed, with Dec-21 FOB US Gulf urea up $209 per ton over September.
Tighter global wheat stocks support grain prices, and rising urea costs raise production expenses for farmers and future planting decisions. Buyers face higher costs on both sides of the supply chain.
ahdb.org.ukOct 1, 2021After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 76 past bullish report events, Urea moved a median 0.0% over 5 sessions (49% higher; middle half -2.2% to +2.9%), and -0.3% 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.
AHDB reports Dec-21 FOB US Gulf urea up $209/t over September, directly confirming the sharp price surge into 1 Oct.
Lower-than-expected US stocks and production cuts pushed global wheat higher, showing the supply shock transmitted to world prices and feed wheat futures.
AHDB notes Dec-21 FOB US Gulf urea up $209/t over September, confirming the magnitude of the price surge, though it was published after the move date.
