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Nov '25 feed wheat futures hit a one-month high of £186/t on 22 May on adverse weather and fund short covering, then slipped back to about £182/t. Dryness in northern Europe, Russian drought and frost, a drop in US winter wheat ratings to 52% good-to-excellent, and heat in Henan are cited as supply risks.
Weather threats across major exporters and possible Chinese import demand support wheat prices, which lift the cost of wheat-based feed ingredients for buyers.
fas.scotMay 30, 2025After 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.
After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% 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.
