UK feed wheat for November 2021 closed up £0.20/t to £175.00/t and rose to £177.00/t by midday. The EU crop monitoring report kept EU yield forecasts above the five-year average, though wet weather slowed harvests in Germany, Belgium and the Netherlands.
US soybean ratings fell to 58% good to excellent amid hot, dry weather.
EU yields remain near average, so the concern is quality rather than volume, but US soybean crop damage tightens global oilseed supply and supports soybean-based feed prices.
After 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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.