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Most global grain and oilseed futures fell on Sept. 20, 2021, as US maize and soybean harvests advanced, crude oil dropped, and the US dollar strengthened.
Nov-21 UK feed wheat fell GBP 1.50 to GBP 188.80/t and Nov-21 Paris rapeseed fell EUR 1.50 to EUR 599.25/t. US maize harvest reached 10% complete.
Seasonal harvest pressure and a firmer dollar are removing risk premium from grain and oilseed prices in the short term. Low global stocks and La Niña uncertainty for South America still support prices longer term.
ahdb.org.ukSep 21, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Global grain futures fell on Sept. 20 on US harvest progress, lower crude oil and a stronger US dollar, which weigh on wheat via spillover from corn, energy and currency channels.
Advancing US harvest (10% complete), weaker crude oil and a stronger US dollar pressured corn via seasonal supply, ethanol demand and export competitiveness channels.
