UK feed wheat futures for November 2020 rose £1.50/t to £181.50/t. Defra finalised English crop areas, with wheat, barley and rapeseed areas revised up, and the IGC cut its global maize forecast by 6Mt to 1,160Mt on US issues.
A smaller global maize crop and lower US stocks support corn and feed grain prices, while larger UK areas add some offsetting supply pressure.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
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.