It has been another pressured week for grain markets. Ahead of the Bank Holiday the latest AHDB Grain Market Report shows Nov-24 UK feed wheat futures at £184.20/t. The May-25 contract also fell over the past week to £197.75/t.
Revived crop prospects around the globe are a factor but the key driver for the downward pressure is Russian exports. After analysts expected Russian grain prices had hit a floor they fell further and highly competitive Russian grain is weighing on markets.
It is a similar picture in the oilseeds sector. Promising crop prospects and ample soyabean stocks are making for a bearish market, although rapeseed is at a premium over soya.
The Nov-24 Paris rapeseed futures fell over the week to €457.25/t, the May-25 contract also dipped to €456.50/t.
