High global supply of wheat and low export rate: Grain market daily

• UK feed wheat futures (Nov-25) closed down £1.20/t (0.7%) at £168.30/t yesterday. The May-26 contract fell £1.15/t yesterday, closing at £178.95/t.
• UK feed wheat futures fell yesterday, following falls for Paris milling wheat futures. Paris milling wheat futures (Dec-25) decreased by 1.2%, while the Chicago futures market was closed due to a federal holiday. Paris milling wheat futures fell mainly due to a higher production forecast in Australia and increased Russian wheat supplies in combination with lower export demand.
• Paris rapeseed futures (Nov-25) increased by €4.75/t (1.0%) to close at €467.25/t. This was a technical correction following the decreases seen last week, while the Winnipeg canola and Chicago soybean futures markets were closed.
• The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) revealed that its latest forecast for canola production in 2025/26 is 6.4 Mt, marking a 1% increase from the previous season.  In June, the crop was forecast at 5.7 Mt.

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