Wheat prices rebounded from last week’s low on the back of the USDA’s World Agricultural Supply and Demand Estimates (WASDE) report. The report cut the EU’s total wheat crop by 1.3 Mt to 121.3 Mt, this with an estimated reduction in Russia’s wheat exports, along with lower-than-expected 2024/25 US ending stocks, offered some market support and is expected to influence grain markets in the short term.
The report was bullish for maize, revising global ending stocks for maize tighter (-7.7 Mt to 296.4 MT), which also lent support to wheat markets.
As a result, the latest AHDB Grain Market Report shows UK feed wheat futures (May-25) rose to £188.25/t and the Nov-25 contract standing at £190.00/t.
Rapeseed prices gained for the second week running, also boosted by the USDA report after it cut Canadian Canola production. Paris rapeseed futures (May-25) stand at €530.00/t, the Nov-25 contract at €476.00/t.
