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UK feed wheat futures rose £5/t in the first half of the week to £158/t for May 2020, with new-crop November futures up over £6.50/t. Weaker sterling and Russia's plan to limit January-June grain exports to 20 million tonnes supported prices, while a large 2019 UK crop caps gains.
Russia's export quota tightens global wheat supply and firms European feed grain prices, though ample old-crop UK supply limits the rally.
fwi.co.ukSuzie HorneJan 16, 2020After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% 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.
