Geopolitics and weather risks lift prices: Grain market daily

• The May-26 UK feed wheat futures contract closed at £172.45/t yesterday, up £1.20/t (0.7%) from Monday’s contract low. The Nov-26 futures contract for the new crop also rose by £1.20/t, reaching £176.75/t.
• Chicago wheat and Paris milling wheat futures (May-26) both increased by 0.9%. Following a recent downward trend due to significant supply pressures in the global wheat market, prices increased yesterday. Support is coming in response to Russia's threats to attack Ukrainian vessels and port infrastructure. Also, the weather forecast predicts a decrease in temperature in the western US soon, which could lead to adverse conditions for winter crops and pose logistical risks.
• Paris rapeseed futures (May-26) increased by €3.50/t yesterday to close at €478.25/t. Concerns in the Black Sea region also supported Paris rapeseed futures.
• Chicago soyabean futures and Winnipeg canola futures (May-26) fell by 0.2% and 0.3%, respectively yesterday. The oilseed market is looking for further factors that influence prices.

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