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AHDB's market commentary said new-crop Nov-20 UK feed wheat futures gained while remaining well below April and March highs, and the EU raised its import duty on maize to 10.40 euros per tonne. Brent crude recovered above 30 dollars per barrel.
Dryness in South America and the Black Sea was noted but demand was seen as the main driver.
The higher EU maize import duty reduces import competition for feed grains in Europe, supporting EU maize prices, while crude's recovery supports energy-linked commodities.
ahdb.org.ukMay 6, 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.
