It’s been a positive week for grain markets with the latest AHDB Grain Market Report showing UK feed wheat futures (May 26) at £180.50/t.
Improving US-China relations has helped. It has been reported that China is showing renewed interest in US wheat. A fall in the euro and sterling has also helped, the euro dropping to a two-month low against the US dollar, supporting EU wheat competitiveness despite Black Sea and Argentine pressure.
Reports have also circulated that the Russian government is considering a 20 Mt grain export quota to run between 15 February to 30 June 2026. Last season’s quota for the same period was 10.6Mt, covering only wheat and meslin, but in this quota both maize and barley are being considered.
China is helping maintain the support for oilseeds. The Chinese authorities have extended the suspension of part of the customs duties on US exports. Chicago soya bean futures (May-26) gained 1.2% on one day as a result.
The firmness of the oilseeds complex saw Paris rapeseed futures (May-26) rise to €478.50/t.
