AHDB - UK Agriculture and Horticulture Development Board

08/29/2024 | News release | Distributed by Public on 08/29/2024 07:41

Lowest English cereals and OSR area in over four decades: Grain market daily

  • UK feed wheat futures (Nov-24) closed at £181.30/t yesterday, rising £1.40/t from Tuesday's close. The May-25 contract gained £1.55/t over the same period, to close at £193.30/t.
  • UK feed wheat futures found support yesterday as FranceAgriMer reported that the average specific weight and protein content of the French wheat crop are both still well below the five-year average. Also, Germany's Agriculture Ministry forecasted German wheat production down 12.7% on the year to 18.8 Mt.
  • Paris rapeseed futures (Nov-24) closed at €461.25/t yesterday, falling €2.50/t from Tuesday's close. The May-25 contract lost €1.75/t over the same period, to close at €464.75/t.
  • Paris rapeseed futures were pressured yesterday as this year's first model-based estimate from Statistics Canada forecast canola (rapeseed) production up 1.6% on the year to 19.5 Mt. Higher yields offset a marginally smaller area. In addition, milder temperatures and rainfall forecast over the US Midwest alleviated concerns regarding recent dry weather and its impact on the soyabean crop, weighing on the oilseed complex.