AHDB - UK Agriculture and Horticulture Development Board

12/11/2024 | News release | Distributed by Public on 12/11/2024 09:50

Tighter US maize stocks ‘surprise’ market: Grain market daily

  • UK feed wheat futures (May-25) fell £1.90/t yesterday, closing at £186.70/t. The Nov-25 contract ended the session at £189.00/t, down £0.40/t over the same period.
  • Domestic wheat futures were down yesterday due to a strengthening of sterling. However, the US and EU wheat markets were up, with Chicago wheat futures (Dec-24) gaining $0.28/t to close at $199.15/t, while May-25 Paris milling wheat futures rose €1.75/t, closing at €232.75/t. Prices were supported by repositioning ahead of the USDA WASDE report and market expectations of a reduction in Russia's wheat exports. More on the latest WASDE report below.
  • Paris rapeseed futures (May-25) were up €4.00/t from Monday's close, ending the session at €531.25/t. The Nov-25 contract rose €5.00/t over the same period to close at €478.75/t.
  • Paris rapeseed futures followed Winnipeg Canola markets up with the USDA reducing Canadian Canola production in its latest report.