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AHDB notes UK wheat futures gained on US crop tour damage and wet European harvest weather, with SovEcon cutting Russian 2021/22 wheat export forecast by 1.3Mt to 37.1Mt. It also reviews barley's record discount to wheat in 2020/21 and expects that discount to narrow as UK wheat output rises and barley falls.
Smaller Russian export availability and EU quality worries support wheat, while a narrower wheat-barley discount would reduce barley's appeal as a feed substitute.
ahdb.org.ukJul 29, 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.
