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Scottish columnist notes UK weather was wet and cold in May 2021 before warm weather returned, and that US spring wheat is rated only 43% good to excellent amid northern Plains drought. UK November feed wheat futures fell about £15/tonne between May 7 and June 8.
Drought in the US northern spring wheat belt tightens supply and supports wheat prices, while UK feed wheat values have eased.
thescottishfarmer.co.ukDoug NivenJun 14, 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.
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.
