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Markets impacted by a lack of trade talk details

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Despite the USDA predicting a 4.2 Mt decline in global wheat stocks over 2026/27 due to a 24.8 Mt drop in production, wheat markets have felt the pressure from a lack of details from trade talks between the US and China. This weighed on prices and triggered fund selling at the back end of last week. May-26 UK feed wheat futures dipped slightly, currently at £185.30/t, while the November contract gained, sitting at £189.90/t. Global maize stocks are also expected to fall in 2026/27. However, the predicted stocks for wheat and maize in major exporting countries are still above 2024/25…