After grain prices dipped at the end of last month, prices have rebounded, Nov-26 UK feed wheat futures rising to £209.00/t.
According to AHDB analysts, disruption to Black Sea trade underpinned European prices. Despite diplomatic efforts to get ships moving, Russia rejected truce proposals truce so concerns over export disruption remain.
Furthermore, the Ukrainian farm minister warned that winter wheat plantings for the 2027 harvest could fall by 17% due to ongoing export difficulties caused by the conflict.
Traders will now turn their attention to this week’s USDA World Agricultural Supply and Demand Estimates (09 October). They are expected to provide clearer direction on US crop sizes for maize and soyabeans and global balance sheets.
Oilseeds outlook
Concerns over sunflower Black Sea exports helped underpin rapeseed prices; Paris Nov 26 oilseed futures remain unchanged from last week at €537.00/t.
In the US, wet weather is impacting the soya bean harvest, the Canadian canola harvest is also being also delayed due to wet weather, which is likely to hit yields and quality.
Looking further ahead, recent dry weather due to El Niño poses a risk to supplies; the Indonesian Palm Oil Association forecasts a 4% fall in production in 2027.
