It has been a rather uneventful week for markets, with prices largely where they were at last Friday’s close (10th January).
After gains at the beginning of the week prices were pegged back after recent forecasts on stocks. The latest AHDB Grain Market Report shows marginal rises for UK feed wheat futures (May-25) and the Nov-25 contract, £190.25/t and £194.25/t respectively.
The USDA’s WASDE report showed a rise in world wheat ending stocks for 2024/25 to 258.8 Mt, above average trade estimates and up 0.9 Mt from December data.
This was followed by FranceAgriMer’s updated forecasts of French exports and ending stocks. Updated figures for France’s forecast export of wheat and barley in the current marketing year are lower than expected. As a result, forecast ending stocks of wheat and barley in France are higher than previously estimated.
Oilseeds fared a little better. May-25 Paris rapeseed futures stand at €538.00/t, a small gain over the same period.
In part, this was down to the USDA’s WASDE report which suggested lower-than-expected production and stock estimates for soyabeans, especially in the US. Traders are also concerned over US soyabean export levels after the inauguration of Donald Trump.
