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Global supply outlook weighs on markets

Despite the ongoing political tensions in the Middle East, the USDA’s April World Agricultural Supply and Demand Estimates (WASDE) helped put some pressure on markets. May-26 UK feed wheat futures…

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Global supply outlook weighs on markets

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Despite the ongoing political tensions in the Middle East, the USDA’s April World Agricultural Supply and Demand Estimates (WASDE) helped put some pressure on markets. May-26 UK feed wheat futures stand at £175.50, basically where they have been for the last two weeks. The AHDB describes the report as ‘broadly neutral-to-bearish’ for grains, with US maize stocks unchanged, at a seven-year high. Further to that, increases to global wheat and maize ending stocks for the 2025/26 marketing year reinforced a comfortable global supply outlook, limiting any upside for wheat and maize futures. Further pressure has come from beneficial rains following…