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UK feed wheat futures reached a new high of £219.50/t as global wheat demand stayed strong. Barley usage in UK feed is expected to shrink as barley's price discount to wheat narrowed, and USDA rated 46% of the US winter wheat crop good or excellent.
Narrowing barley discounts shift feed demand toward barley and reduce wheat's feed advantage, while a weaker-than-expected US winter wheat rating supports wheat prices.
ahdb.org.ukOct 26, 2021Not 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.
