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UK feed wheat Nov-22 futures closed at £164.50/t on 19 May, below a peak of £172.75/t set in late April but still the third-highest price for any crop this far before harvest. Grain and oilseed futures fell on 19 May amid technical selling, while a US crop tour reported good Kansas wheat yield potential and Coceral raised its EU wheat forecast.
Elevated forward wheat prices make feed wheat more expensive relative to alternatives, while improved crop prospects in Kansas and the EU add some downward pressure on prices.
ahdb.org.ukMay 20, 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.
