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Grain prices weakened in the week to August 7 as the November 2020 London feed wheat contract fell about £2.60/t. France cut its soft wheat crop forecast by 1.6m tonnes to 29.7m tonnes, while Russian wheat harvest results beat expectations.
A sinking US dollar and improving US yield outlook made maize more competitive.
Competitive Russian wheat and cheaper maize offset the European crop cuts, so feed grain values face pressure. Buyers may find cheaper alternatives in the near term.
fwi.co.ukSuzie HorneAug 7, 2020Not 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.
