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Wheat fell on Russian rain forecasts and speculative selling, with Nov-24 UK feed wheat down to £216.60/t. The EU Commission kept 2024/25 wheat output at a four-year low of 120 Mt, cut EU rapeseed output to 19.1 Mt, and will impose high tariffs on Russian and Belarusian grain and oilseed meals from 1 July.
Tariffs on Russian rapeseed and sunflower meal will shift EU meal sourcing and support prices for alternative protein, while the lower EU rapeseed crop tightens supply.
ahdb.org.ukMay 31, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 375 past bearish trade events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
