2025 has opened on a positive note. The latest AHDB Grain Market Report shows wheat prices have gained since the close ahead of Christmas.
UK feed wheat futures (May-25) went back above £190/t, currently standing at £192.55/t, the Nov-25 contract also rose to £193.55/t.
An uptick in global demand as well as weather risks for the northern hemisphere winter crop helped support grain prices. The strengthening of sterling against the euro and weakening against the US dollar also played a part.
Rapeseed prices also gained slightly over the same period. May-25 Paris rapeseed futures rose to €508.50/t.
First 2025 watchpoint
Following the festivities, the first watchpoint of 2025 is the USDA’s January WASDE report. It could activate the market after the holidays and could offer further insight into pricing trends. A key area will be the soyabean production forecast for the 2024/25 marketing year in Brazil and Argentina. Indonesia is delaying the implementation of its B40 biodiesel mandate from 1 January 2025, which could add some uncertainty to palm oil prices.
