With the clocks going back, so have grain prices too. Nov-26 UK feed wheat futures slipped for the third week running, currently standing at £193.00/t.
Following US special envoy Steve Witkoff travelling to Moscow and Oslo for meetings with Presidents Putin and Zelenskyy, trilateral talks look likely, although strikes by both sides continue. Any deal is likely to see a return of Black Sea grain flows; in the meantime, Ukraine has requested increased transit capacity from Poland, Romania, Slovakia and Hungary to move grain overland.
But other pressures have weighed on markets. Better weather in the US has seen strong harvest progress. In addition, the Rosario Stock Exchange has raised its estimate for Argentina’s 2026/27 wheat harvest to 23.8 Mt. If so, this will add to global wheat availability, the AHDB suggests this would be Argentina’s second-largest crop on record.
Oilseeds outlook
In contrast, oilseed markets have bounced back strongly, Paris Nov 26 oilseed futures rising to just below €530.00/t.
A rise in crude oil prices in the latter part of the week helped, as did above-average weekly US soya exports. The AHDB says growers should keep an eye on political efforts to get Russia and Ukraine around the negotiation table, plus the US weather with the soya bean harvest in progress.
