The recent slide in wheat prices has spurred some importing countries to purchase grain but it hasn’t had a significant impact on grain markets.
Jordan’s state grain buyer has tendered around 60 Kt of hard milling wheat from optional origins, and an LSEG report suggests a further 120 Kt tender has been raised. The LSEG also reports that a group of South Korean flour mills has bought an estimated 50 Kt of milling wheat to be sourced from the US.
However, this flurry of activity has been offset by competitive Black Sea grain, US prices and the supply of Argentina’s new crop in the coming weeks.
The latest AHDB Grain Market Report shows UK feed wheat futures (Nov-25) fell over the week, standing at £164.65/t. The May-26 contract also slipped to £173.85/t.
Nov-25 Paris rapeseed futures are unchanged, standing at €466.50/t. The oilseeds complex remains stronger with crude oil prices supporting vegetable oil markets.
However, China continues to shun US soya and according to Conab, Brazil’s soya bean harvest for 2025/26 is expected to reach a record 177.64 Mt, around 6 Mt higher than last year, following a 3.6% rise in the planted area.
