Ukraine peace talks and falling crude oil prices pressure markets: Grain market daily

• Old crop and new crop UK feed wheat futures reached contract lows yesterday. The May‑26 contract closed at £168.25/t, down £1.20/t from Monday. The Nov‑26 contract fell £1.60/t over the same period to close at £171.25/t
• Domestic wheat prices followed global markets lower, pressured by expectations of ample supply and strong export competition. Chicago wheat futures and Paris milling wheat (May-26) fell by 8% and 1.0% respectively, both hitting new lows
• Peace talks in Ukraine also influenced markets. The USA is reported to have proposed NATO-style security guarantees for Kyiv, and discussions with European partners are progressing, though territorial issues remain unresolved
• Paris rapeseed futures (May-26) closed at €462.50/t yesterday, down €3.50/t (0.8%). This reflects weakness across the oilseeds complex, with Chicago soyabean and Winnipeg canola futures (May-26) falling 0.9% and 0.7%, respectively
• Lower crude oil prices added additional pressure to oilseeds. Nearby Brent crude oil futures dropped to $58.92/barrel, the lowest since May. The fall came as hopes for a Russia–Ukraine peace deal grew, raising expectations that sanctions on Russia could be eased

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