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Grain markets are drifting because a US federal shutdown, now in its fifth week, has halted official US data releases. Old-crop May 2019 Liffe feed wheat fell GBP 4.15 to GBP 173.10 and November new-crop fell GBP 4.10 to GBP 155.90 during the week.
Currency moves, with the pound firmer against the euro, were also shaping UK commodity prices.
With USDA reports delayed, the market lacks fresh US information and tends to trade lower on uncertainty. Currency swings are adding to price pressure for buyers pricing feed wheat in sterling.
thescottishfarmer.co.ukThe Gleaner by Doug NivenJan 24, 2019After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
