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UK grain markets held steady after the December 9 USDA WASDE, which left US maize, wheat and soybean balances unchanged but raised global wheat ending stocks by over 3 million tonnes to 252.1 million tonnes. Global maize production was lifted by 9.2 million tonnes to a record 1,039.7 million tonnes.
The May 2017 UK feed wheat futures fell just 40p/t on the week.
Largely expected production increases, including record maize, kept the market flat and limit near-term price moves for feed grains. Buyers face ample supply and little price pressure from the report.
fwi.co.ukIsabel DaviesDec 12, 2016After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
