AHDB - UK Agriculture and Horticulture Development Board

05/16/2024 | News release | Distributed by Public on 05/16/2024 05:55

Wheat stock projections add to market nerves: Grain market daily

  • Nov-24 UK feed wheat futures saw minimal price movement yesterday, down £0.05/t to close at £217.95/t.
  • Global wheat markets were mixed but moved relatively sideways yesterday. US wheat markets were slightly pressured after improved weather across the US plains saw strong yield potential during the annual US wheat tour. However, Paris wheat was supported slightly as concerns remain over the Russian crop. Sovecon revised down its wheat crop estimate yesterday to 85.7 Mt, from 89.6 Mt (LSEG).
  • Paris rapeseed futures (Nov-24) ended yesterday's session at €483.50/t, down €1.50/t from Tuesday's close.
  • European rapeseed markets followed US soyabean prices down yesterday. US soyabeans were pressured after the National Oilseed Processors Association (NOPA) reported that soyabean crushing fell to a seven-month low in April.