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UK feed wheat May-21 futures fell £3.25/t to £199.65/t as sterling strengthened, while Chicago corn fell 5.6% after USDA raised Chinese corn stocks and a 132Kt export sale was cancelled. The analyst notes sharp early-2021 fertiliser price increases, with ammonium nitrate offers withdrawn and reissued at higher levels.
Rising fertiliser costs squeeze grain margins and feed input budgets, while weaker corn and UK wheat futures lower the price of feed ingredients in the near term. Energy-linked fertiliser strength is only partly explained by gas and oil.
ahdb.org.ukFeb 11, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
