AHDB - UK Agriculture and Horticulture Development Board

05/19/2023 | News release | Distributed by Public on 05/19/2023 05:36

Joining the CPTPP, what could this mean for UK agriculture? Grain market daily

  • UK feed wheat futures (Nov-23) closed yesterday at £187.25/t, down £2.85/t from Wednesday's close. Domestic markets followed global wheat contracts down yesterday, feeling continued pressure from the Black Sea Initiative (Ukraine export corridor) extension for another two months.
  • Yesterday, the International Grains Council (IGC) released its latest global supply and demand estimates. The 2023/24 total grains production is now seen at an all-time high at 2,294Mt, up 3.2Mt from April's estimate. This is on account of larger expected maize crops in China and Brazil, despite some reductions to expected wheat and barley production.
  • Paris rapeseed futures (Nov-23) closed at €412.75/t yesterday, up €8.25/t from Wednesday's close. Rapeseed regained a little ground after falling to the lowest level for the contract in nearly two years the day before.