Record Canadian crop weigh on rapeseed prices: Grain market daily

• UK feed wheat futures lost more ground yesterday as European prices fell and the May-26 contract lost £1.05/t to close at a new contract low of £171.20/t. The Nov-26 contract closed at £175.20/t, also down £1.05/t over the day and a new contract low.
• European grain futures fell due to increasing confirmation of high global supplies with increased Canadian estimates. Chicago wheat futures prices edged up, echoing small rises for Chicago maize due to technical trading and buying by speculative traders.
• Paris rapeseed futures fell due to confirmation of a larger Canadian canola crop, along with the euro remaining strong against the US dollar. The May-26 contract fell €4.00/t to €469.50/t, while the Nov-26 price declined by €4.00/t to €460.00/t.
• Statistics Canada now estimates the 2025 Canadian canola (rapeseed) crop at a record 21.8 Mt, an increase of 1.8 Mt from September’s estimate. Total wheat production was also increased 3.3 Mt from September to a new record of just under 40.0 Mt, with large increases to the barley and oat crops as well. While increases from September were expected due to harvest results, the size of the increase in addition to good results in Australia earlier this week, was negative for prices.
• In its final report until spring, this morning FranceAgriMer showed French cereal crop conditions remained good. By 1 December, 96% of both winter barley and emerged soft wheat crops were in good or excellent condition, versus 81% and 86% last year, respectively.

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