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UK wheat futures and US soybean futures closed lower on June 8, with soybeans capped by a USDA report rating 72% of the US crop good to excellent. AHDB says UK domestic rapeseed production for 2020/21 may be the worst this millennium, with EU area down about 2% and weather hurting yields.
Poor EU and UK rapeseed prospects tighten import needs and support import parity prices, while strong US crop ratings add pressure to soybean prices.
ahdb.org.ukJun 9, 2020Not enough comparable past events yet for a historical read.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
