Wheat prices continue to bounce along the bottom as pressures continue to mount.
IKAR raised the Russian wheat crop forecast from 87.5 Mt to 88 Mt. This Russian wheat crop turned out larger than was anticipated pre-harvest – this could increase Russia’s export potential – adding more market pressure.
With traders increasingly losing interest as the last trading approaches, the latest AHDB Grain Market Report shows UK feed wheat futures (Nov-25) at a new low of £162.55/t. The May-26 contract remained broadly where it was, currently sitting at £173.85/t.
Oilseed markets fared better. Paris rapeseed futures (Nov-25) rose over the week to €472.00/t. Optimism over trade talks with China and firmer crude oil values have provided support, as has the prospect of the Ukraine sunflower harvest, with yields impacted by poor weather.
In Brazil, oilseed association Abiove has forecast the 2025/26 soya bean crop at a record 178.5 Mt, up from 171.8 Mt last season. Export volumes are projected at 111.0 Mt in 2026, compared with an expected 109.5 Mt in 2025
