Wheat pressured by strong export competition: Grain market daily

• UK feed wheat futures (May-26) fell to £169.45/t yesterday, down £0.85/t from Friday’s close. The Nov-26 contract was down by £0.55/t, closing at £172.85/t. Both domestic contacts reached a new low yesterday due to pressure from the well-supplied global wheat market
• Chicago wheat futures and Paris milling wheat (May-26) fell by 1.6% and 0.7%, respectively. Wheat markets were under pressure due to strong competition between the main exporters. The market was particularly influenced by the ample supply and competitive price of new crop Argentinian wheat, which has recently had upward revisions
• Paris rapeseed futures (May-26) closed at €466.00/t yesterday, down €1.75/t (0.4%). Winnipeg canola (May-26) fell by 0.6%. Crude oil prices have been pressured for three consecutive trading days, this is weighing on the vegetable oil market in general and the oilseed market in particular
• Chicago soyabean futures (May-26) closed down 0.4% reaching their lowest level since late October 2025, as the market continues to reverse the premium built into it following optimism surrounding US-China trade. There is mounting pressure due to soybean exports to China being lower than expected. Yesterday, the National Oilseed Processors Association (NOPA) published its US soyabean crushing figures, which were lower than both the October record crush and the average of trade estimates

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