Wheat prices remain under pressure due to an ample global supply, favourable weather conditions in the Northern Hemisphere and currency fluctuations.
Sterling gained on both the US dollar and the euro following the Budget, reaching the highest levels in a month. This caused a downward correction in domestic wheat prices.
The latest MARS European crop monitor showed that the weather is currently generally favourable for winter crops across Europe. This followed the USDA’s Crop Progress report, which showed that 3% more of the 2026 winter wheat crop was rated as ‘good’ or ‘excellent’ than the previous week. However, this is still 5% below last year’s rating.
The latest AHDB Grain Market Report shows UK feed wheat futures (May-26) at £172.75/t, down close to £5.00/t from last week’s close.
Paris rapeseed futures (May-26) slipped slightly over the same period to €478.50/t. The news that China had purchased 10 cargoes of soya beans following a call between Donald Trump and President Xi on Monday (24/11) offered some support.
However, the AHDB suggests the market expects a further one-year delay in the implementation of the European Union Deforestation Regulation (EUDR). This is likely to be negative for rapemeal prices, which will need to be monitored for any knock-on impacts for rapeseed prices
