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A UK feed commentary reports that November wheat futures fell from £147.80 to £143.75 per tonne as forecast rain eased US Midwest heat concerns and funds sold. GM soya prices dropped £15/t to £280/t ex-port for November-April, with about 60% of the US soy crop rated good or excellent.
Improved US crop weather and fund liquidation are pushing grain and soymeal prices lower, which reduces feed input costs for buyers in the near term.
feedsandpullets.co.ukMartin HumphreyAug 4, 2017After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
