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AHDB reports UK wheat futures fell on profit-taking after the October WASDE, and that Defra estimates UK wheat output at 14.02Mt and barley at 7.11Mt. It also says Chinese soybean imports in September fell to 6.9Mt from 9.8Mt a year earlier, and it links La Niña to possible support for wheat prices into 2022.
Weaker Chinese soybean imports point to softer meal demand, while a smaller UK crop and La Niña risk support wheat and barley prices for feed buyers.
ahdb.org.ukOct 14, 2021After 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.
Not enough comparable past events yet for a historical read.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
