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UK wheat and barley markets rose to new highs as buyers stock up on EU supplies before possible tariffs of up to 78 pounds per tonne from January 1, 2021. Nearby UK feed wheat futures were at 185 pounds per tonne, and the scarcity of wheat is supporting prices.
Wheat is arriving at UK ports from several EU countries.
Possible post-Brexit tariffs raise the landed cost of imported feed grain and encourage forward buying, which lifts domestic and imported wheat and barley prices. The price impact depends on whether a trade deal is reached.
thescottishfarmer.co.ukDoug NivenOct 18, 2020After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
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.
UK wheat and barley rallied to new highs on pre-Brexit stockbuilding ahead of possible tariffs, a trade-flow and demand driver published just before the move that likely supported barley prices.
