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AHDB reports UK full-season feed usage data showing wheat use in animal feed was the lowest since 2007/08 at 4.12Mt, with barley displacing wheat because of its wide discount. UK feed wheat November futures were trading at £183.50/t after a small fall, following a run of gains in late July.
Barley's discount to wheat is driving feed substitution toward barley, which supports barley demand while wheat demand in feed weakens.
ahdb.org.ukAug 5, 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.
