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UK feed wheat spot prices rose about £4/t over the week to £138-149/t, and US wheat rose after USDA data showed the lowest winter wheat area in 108 years. UK wheat exports have fallen sharply compared with the previous season, and a weak pound is hurting UK export competitiveness.
The US winter wheat area low supports wheat prices, while a weak pound and strong competition limit UK export demand, leaving the feed market firm.
fwi.co.ukSuzie HorneJan 21, 2017After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
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.
