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UK feed wheat futures fell £3.20/t to £242.50/t on 5 December as global grain contracts declined. ABARES forecast Australia's winter crop at 62 million tonnes, the second highest on record, while competitive Black Sea wheat supplies pressured global tenders.
Record Australian output and cheap Black Sea wheat add supply that weighs on world wheat prices, lowering the cost of wheat-based feed ingredients for buyers.
ahdb.org.ukDec 6, 2022Not enough comparable past events yet for a historical read.
After 10 past bearish weather events, Crude Oil (Brent) moved a median +2.1% over 5 sessions (60% higher; middle half -2.9% to +4.6%), and +0.8% over 20.
After 70 past bearish weather events, Wheat (HRW) moved a median -0.6% over 5 sessions (41% higher; middle half -3.9% to +2.5%), and -1.1% over 20.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
