Rising import activity supports global wheat markets: Grain market daily

• Nov-25 and May-26 UK feed wheat futures followed increases in both the Paris and Chicago wheat futures yesterday. The Nov-25 contract closed up £0.70/t yesterday at £166.55/t, while the May-26 contract gained £0.10/t, closing at £174.95/t. Chicago wheat futures (Dec-25) rebounded from contract lows to rise 0.7%, while Paris milling wheat futures (Dec-25) increased 0.8%.
• Sterling weakened against both the US dollar and Euro yesterday, ending yesterday at £1 = $1.3316 and €1.1467, respectively.
• The recent slide in wheat prices toward recent lows has spurred some importing countries to purchase grain. Jordan’s state grain buyer has tendered around 60 Kt of hard milling wheat from optional origins, and a new 120 Kt milling wheat tender has been issued, according to reports this morning (LSEG). Meanwhile, a group of South Korean flour mills has bought an estimated 50 Kt of milling wheat, to be sourced from the US (LSEG).
• EU soft wheat exports so far in the 2025/26 season (01 July-12 October) reached 5.51 Mt, according to the European Commission, down from 7.12 Mt at the same stage last year. The decline partly reflects incomplete data from France, the bloc’s leading exporter.
• The broader oilseeds complex showed weakness yesterday as China continues to shun soybean purchases from the US. Nov-25 Paris rapeseed futures fell €4.25/t to settle at €465.50/t, while Nov-25 Chicago soyabean and Dec-25 Chicago soyabean oil futures both declined by 0.1%.
• Brazil’s soybean harvest for 2025/26 is expected to reach a record 177.64 Mt, around 6 Mt higher than last year, according to Conab. The increase reflects a 3.6% rise in planted area.

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