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UK feed wheat futures for May 2023 closed at £204.50/t, down £5.00, and rapeseed futures also fell after the Black Sea grain export deal was extended for at least 60 days. The European Commission's March crop monitoring report showed most European winter cereals in fair to good condition despite dry conditions in some regions.
Extension of the Black Sea deal removes a supply risk and, together with decent European crop conditions, weighs on wheat and rapeseed prices; dryness in certain regions is the main upside risk.
ahdb.org.ukMar 21, 2023Not enough comparable past events yet for a historical read.
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.
