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UK feed wheat futures fell £1.40/t to £135.85/t as ample global wheat supplies were confirmed. Ukrainian exports could reach 21.0Mt this season, up from 15.5Mt last year.
US crop tours show Indiana and Nebraska yields down year-on-year, and the EPA's recent biofuel blending exemptions could cut US maize demand.
Ample wheat supplies and possible lower US ethanol-driven corn demand pressure grain prices, while poor US yield estimates offer some support.
mainsitelive.azurewebsites.netAug 21, 2019After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.
After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
