Profit taking helps push grain prices lower

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With no repeat of the Chinese US wheat purchase and profit taking wheat prices slipped this week states the latest AHDB Grain Market Report.

Domestic wheat futures followed global wheat price movement, UK feed wheat futures (May-24) closed on Thursday 14th December at £195.10/t, down slightly on the previous week. The Nov-24 contract was also a little lower at £207.25/t.

Defra figures for final estimates for 2023 UK cereal and oilseed production reflect the provisional estimates made in October of UK wheat production at 14.1 Mt for 2023. The data confirms lower national yields in comparison to 2022, with notably larger annual downgrades to spring barley and oilseed rape (OSR).

Paris rapeseed futures (May-24) remained where they were closing at €438.50/t. The Nov-24 contract ended yesterday’s session down slightly at €444.25/t, down just €1.00/t on the previous week

Paris rapeseed futures followed the wider oilseed complex down yesterday with pressure in the US soyabean market following forecasts of rain in Brazil settling concerns over dryness in key producing regions.

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