It looks like the slide in grain prices has bottomed out. The latest AHDB Grain Market Report shows UK feed wheat futures (Nov-24) at £182.90/t, up close to £2.00/t from last week’s close. The May-25 gained over the same period and stands at £196.20/t.
Competitive Black Sea grain is still impacting markets but US weather concerns, poor European harvest results and short coverings by speculative traders helped offset the pressure markets have been under. For the last few weeks, analysts have suggested Russian grain prices have floored, which will ease the pressure on markets.
Rapeseed prices also gained over the same period. Nov-24 Paris rapeseed futures stand at €466.50/t, the May-25 contract at €467.75/t.
It has been a turbulent week following China’s announcement of launching an anti-dumping investigation into Canadian rapeseed imports, this knocked close to €20/t off rapeseed values at one point.
But AHDB analysts note the global rapeseed market is still fundamentally tight and following downward revisions to EU rapeseed and sunseed crop estimates markets recovered.
