It has been another quiet week for grain markets with the latest AHDB Grain Market Report showing little change from last week’s close on Friday, 12th April.
UK feed wheat futures (May-24) stand at £172.70/t and the Nov-24 contract is currently at £195.30/t, both broadly where they were.
The sideway move is largely due to lacklustre global export demand and strong competition from Black Sea supplies, combined with concerns over new crop conditions in Europe.
The oilseeds sector has come under greater pressure. Ukraine’s APK-Inform agriculture consultancy raised its 2024 rapeseed crop estimate by 4% to 4.3 Mt, with lacklustre Canadian exports (LSEG) and a weakness in crude oil markets also influencing markets.
As a result, the May-24 Paris rapeseed futures currently stand at €448.25/t and the Nov-24 contract at €454.50/t.
