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European feed grain prices remain high, with wheat, maize and barley all at elevated levels, and Dutch feed barley quoted at €190-209/t. The USDA August WASDE showed very high US corn yields, which weighed on CBOT corn, while European corn held near €190/t.
Drought in the EU, the Black Sea and Canada, plus possible Russian wheat export curbs, keep European feed grain prices firm. The bearish US corn yield outlook is a partial offset for global feed costs.
en.boerenbusiness.nlNiels van der BoomAug 20, 2018Not enough comparable past events yet for a historical read.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
