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Farmers Weekly's UK cropping margin analysis for 2020 shows feed wheat values recently rising on US maize planting problems, though the global wheat market still looks well supplied. A possible no-deal Brexit could impose a €12/t tariff on UK wheat exports to the EU within a quota.
The Vivergo bioethanol plant's offline status also pressures feed wheat demand.
Global wheat remains well supplied, so US maize planting delays give only limited support to feed wheat prices, while Brexit tariff risk and reduced UK biofuel demand weigh on UK feed wheat.
fwi.co.ukSuzie HorneJun 27, 2019After 13 past neutral macro events, Wheat (SRW) moved a median -0.3% over 5 sessions (46% higher; middle half -2.0% to +0.2%), and -2.0% over 20.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% 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.
