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The AHDB early balance sheet forecasts UK wheat feed usage up 3% to 7.119 Mt in 2023/24, while barley feed usage is forecast down 3% to 3.814 Mt. Feed wheat futures for November 2023 closed at £191.30/t.
Cheaper wheat relative to barley shifts rations toward wheat and maize, supporting wheat feed demand and weighing on barley.
ahdb.org.ukOct 19, 2023After 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.
Not enough comparable past events yet for a historical read.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), 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.
