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Grain prices in Ireland and across Europe are rising as extreme weather lowers yields. German winter barley is estimated down 18%, and Euronext MATIF December wheat rose above €200/t.
Dry conditions in the US are also expected to hurt corn yields in major states.
Lower European and US yields reduce available feed grain supply, pushing up wheat, barley and corn prices for feed buyers.
agriland.ieSiobhán WalshJul 28, 2018After 1,072 past bullish weather events, Wheat (SRW) 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.
Published 2 days before the move, it reports German winter barley down 18% and MATIF wheat above €200/t, so European feed grain strength likely spilled over into barley.
