Huge volatility continues in global grain markets and continues to filter down into domestic prices. UK wheat futures (Nov-22) have fallen in three consecutive sessions, closing at £294.35/t yesterday and down £16.95/t since last Thursday.
With the strong potential of increased domestic availability for the 2022/23 marketing year, could UK feed wheat futures be at a greater discount to Paris milling wheat futures? Or are there other factors that could change this?
In line with the May supply and demand estimates, a change in trade dynamics and market volatility since the outbreak of war between Russia and Ukraine, appears to have impacted on UK grain import and export trade. In this article I will explore the key areas.