How do UK wheat overhead costs stack up internationally: Grain market daily

Market commentary

• UK feed wheat futures (May-24) closed at £170.00/t yesterday, down £3.50/t from Monday's close. New crop futures (Nov-24) closed at £191.50/t, down £2.50/t over the same period.
• UK feed wheat futures followed both the Chicago and Paris wheat markets down yesterday. Wheat futures continue to feel pressure from plentiful global supplies with Black Sea grain still pressuring the market. Further to that, the Chicago market ended lower from technical trading, a strong US dollar and fading demand in China.
• The market awaits further news as the USDA's 2024 Prospective Plantings and quarterly Grain Stocks reports will be released tomorrow (28 Mar).
• EU soft wheat exports were down 2% at 22.8 Mt by March 23 for the 2023/24 season and imports up by 4% at 7.12 Mt. Competitively priced Ukrainian wheat has continued to be imported into the EU, making up near 5 Mt of those imports (EU commission).
• Paris rapeseed futures (May-24) closed yesterday at €452.00/t, down €5.00/t from Monday's close. The Nov-24 contract ended the session at €458.00/t, down €3.25/t over the same period. Paris rapeseed futures followed pressure in Chicago soyabeans which were down after a choppy trading session as farmers sold some old-crop supplies ahead of the USDA data release tomorrow (LSEG).