EU wheat forecast hits decade high: Grain market daily

• UK feed wheat futures edged higher yesterday, with the Nov-25 contract closing at £167.20/t, up £0.65/t from Wednesday’s close
• Domestic wheat futures tracked gains seen in global markets, supported by renewed demand and bargain buying after recent price pressure. However, expectations of rising global supplies continue to keep a lid on stronger price movements. Chicago wheat and Paris milling wheat futures (Dec-25) increased by 1.4% and 0.1% respectively
• US wheat net export sales for 2025/26 totalled 539.8 Kt for the week ending 19 September, above the average analysts’ estimate of 450 Kt (LSEG)
• Meanwhile, the EU Commission has raised its forecast for EU soft wheat production in 2025/26 to a ten-year high of 132.6 Mt, up from 128.1 Mt last month. This is due to increased production estimates for Germany and Romania. Export projections were also adjusted slightly higher, with soft wheat exports now forecast at 30.1 Mt
• Paris rapeseed futures (Dec-25) fell €1.25/t yesterday to settle €472.25/t, pressured by profit taking after the recent price recovery. In contrast, Dec-25 Chicago soya bean oil and Nov-25 Winnipeg canola futures rose by 0.9% and 0.2% respectively

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