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…