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The Northern Ireland Grain Trade Association says feed and fertiliser prices are rising on tight global supply. Brazil's soybean harvest is badly delayed by heavy rain, with only a third harvested against a normal two-thirds, and dozens of Panamax vessels are queuing off the coast, which has pushed up sea freight costs.
US soy stocks are the tightest in a decade, and China's maize demand has reduced supply available to Europe.
Delayed Brazilian soybean exports tighten near-term protein and meal supply while freight costs climb, supporting feed ingredient prices. Tight US soy stocks and reduced maize availability for Europe add further upward pressure on feed grain prices.
nigta.co.ukSuper UserMar 11, 2021Not enough comparable past events yet for a historical read.
After 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 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), 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.
