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AHDB reports that UK feed wheat futures for May-21 eased while new-crop Nov-21 rose, and French winter wheat conditions remain well above last year. The IGC raised 2020/21 global wheat output estimates, with increases from Australia, Kazakhstan and Russia.
New-crop UK wheat is pricing to limit exports due to tight 2021/22 supply.
Tight UK and EU new-crop supply narrows the discount to Paris wheat, supporting European feed wheat prices, though global output increases cap gains.
ahdb.org.ukFeb 26, 2021Not 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.
