Currency and climatic conditions are keeping the pressure on grain prices. The latest AHDB Grain Market Report shows UK feed wheat futures (May-25) at a new contract low of £184.35/t, and the Nov-25 contract standing at £186.35/t.
Strong export competition, more favourable weather conditions for wheat and maize crops and a rise in Sterling all helped suppress prices. The falls might have been greater were it not for data showing poor winter crop conditions in Russia (LSEG).
Oilseed prices bounce back
After a dip at the end of November, Paris rapeseed futures jumped back. The May-25 contract rose to €518.25/t, while the Nov-25 contract recovered to €471.50/t.
In addition to the weakening of the euro, Paris rapeseed futures found support as ABARES estimated Australian rapeseed production 8% lower on the year at 5.6 Mt due to a lower planted area (-5% year-on-year) and lower yields.
