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UK feed wheat futures for November 2021 closed at £170.90/t and rose further in early trade. Paris milling wheat rose after French crop conditions weakened on wet weather.
Russian wheat forecasts from USDA, SovEcon and IKAR were all lowered.
Lower Russian crop forecasts and weaker EU crop conditions tighten export supplies, supporting European and global feed wheat prices.
ahdb.org.ukJul 16, 2021After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 1,465 past bullish weather events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
