AHDB - UK Agriculture and Horticulture Development Board

04/18/2024 | News release | Distributed by Public on 04/18/2024 04:31

Inflation and interest rates update: Grain market daily

  • UK feed wheat futures (May-24) closed yesterday at £172.70/t, up £0.50/t from Wednesday's close. The Nov-24 contract gained £0.10/t over the same period, ending the session at £195.30/t.
  • European wheat markets have moved relatively sideways as of late due to lacklustre global export demand and strong competition from Black Sea supplies, combined with concerns over new crop conditions in Europe.
  • May-24 Paris rapeseed futures were pressured €4.75/t yesterday, closing at €448.25/t. The Nov-24 contract closed yesterday at €454.50/t, also down €4.75/t over the same period.
  • European rapeseed prices were pressured yesterday following an increase to the Ukrainian rapeseed production figure. Ukraine's APK-Inform agriculture consultancy raised its 2024 rapeseed crop estimate by 4% to 4.3 Mt. The consultancy said that the harvest could be down 7% on the year (LSEG).