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AHDB's feed market report says global grain prices slipped early July, then climbed on adverse weather in the US, Canada and South America. The July WASDE cut global wheat ending stocks by 5.1Mt, driven by lower US, Canadian and Russian output, and the first US spring wheat estimate was a 33-year low.
Lower wheat supplies from major exporters tighten global feed grain availability and support prices, while dryness adds risk to the US maize crop. Buyers should expect continued sensitivity until Northern Hemisphere harvests advance.
ahdb.org.ukJul 29, 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.
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.
After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% 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.
