Strong supply continues to keep the pressure on grain markets.
The latest AHDB Grain Market Report shows little movement from August’s close. UK feed wheat futures (Nov-25) stand at £166.95/t, the May-26 contract at £180.50/t.
Following favourable crop reports from the US and the Americas, Germany has now estimated its 2025 winter wheat crop up 26% on the previous year. Traders are now turning their eyes to the US to see if yields confirm what is expected to be a record maize crop.
Strengthening sterling also didn’t help, £1 now worth $1.3444 (LSEG).
German crop reports also weighed on rapeseed markets. Germany has raised its production estimate of winter rapeseed by 9% over 2024 at 4.0 Mt. Paris rapeseed futures (Nov-25) stand at €464.50.
Pressure could continue as the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has forecast an increase for canola production in 2025/26 to 6.4 Mt.
