AHDB - UK Agriculture and Horticulture Development Board

05/03/2024 | News release | Distributed by Public on 05/03/2024 06:34

GB winter crops show some improvement from March: Grain market daily

  • New crop (Nov-24) UK feed wheat futures gained £1.60/t yesterday to close at £204.60/t. This followed a rise in global grain futures prices due to ongoing weather concerns, centred on the US and Russia. The latest Russian strike on Odessa in Ukraine also focused the market on Black Sea supplies.
  • Russian forecaster IKAR trimmed its projections for the 2024 wheat crop from 93.0 to 91.0 Mt. This would now be at slightly below the 2023 crop (91.6 Mt, Reuters).
  • Paris rapeseed futures (Nov-24) rose €7.25/t yesterday to close at €473.00/t (approx. £404.50/t).
  • Paris rapeseed and Winnipeg canola prices both followed Chicago soyabean prices higher. Chicago soyabean futures market rose due to concerns about the heavy rain on harvest progress and quality in southern Brazil.