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AHDB reports UK feed wheat futures rose 5% to a contract high of GBP 154/t between June 21 and July 11, then fell to GBP 145/t by July 25 after a bearish USDA WASDE. Chicago November soybean futures rose 7% over the same period to nearly $365/t amid US dryness during pod setting.
Weather-driven gains have partly reversed after the USDA report, but US soybean dryness during pod setting keeps a risk premium in feed grain and oilseed prices.
pig-world.co.ukChloe RyanJul 28, 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 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), 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.
