Improved production estimates have kept the pressure on prices. Sovecon upgraded the Russian production estimate from 83.3 Mt to 85.2 Mt, the USDA significantly increased the US maize crop estimate.
The latest AHDB Grain Market Report shows UK feed wheat futures (Nov-25) at £169.00/t, the May-26 contract also slipped further to £180.75/t.
After the Bank of England reduced the interest rate from 4.25% to 4.00%, the lowest it has been since March 2023, sterling has strengthened against both the US dollar and the euro. This has also weighed on markets,
The general weakness across the vegetable oil complex also continues. Nov-25 Paris rapeseed futures improved slightly since last Friday’s close to €473.75/t.
