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AHDB's weekly UK market report noted global feed wheat supplies look more plentiful than a month ago, while high-quality bread wheat remains tight. The USDA December WASDE raised global ending wheat stocks by 2.4 Mt to 278.2 Mt on higher Australian, Russian and Canadian output.
Higher global wheat stocks and rising production estimates add bearish pressure on feed grain values, while tight barley supplies keep barley tracking wheat.
ahdb.org.ukDec 13, 2021After 1,006 past bearish report events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
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.
