AHDB - UK Agriculture and Horticulture Development Board

04/19/2024 | News release | Distributed by Public on 04/19/2024 06:09

Global grain crop and stock projections cut: Grain market daily

  • UK feed wheat futures were little changed again yesterday. The May-24 contract gained £0.30/t to settle at £173.00/t, while the Nov-24 contract lost £0.15/t to close at £195.15/t.
  • Support for prices from global weather concerns were largely offset by shifting exchange rates and competitive Russian supplies. Weather worries focus on drier than ideal soils in parts of Russia and Hard Red Winter wheat growing areas in the US. The International Grains Council also trimmed its forecasts for global production yesterday; see below for more.
  • Paris rapeseed futures rose due a weaker euro against the US dollar and meaning rapeseed could shrug off falls in Chicago soyabean prices. Chicago soyabean prices remain under pressure from strong competition from South American soyabeans. This is due to the US dollar hitting a 13-month high against the Brazilian real, making US soyabeans less attractive against Brazilian soyabeans.
  • Paris May-24 rapeseed futures rose €2.25/t to close at €450.50/t, while the Nov-24 contract rose €1.75/t to €456.25/t.