Strong global supply prospects continue to weigh on wheat prices: Grain market daily

• UK feed wheat futures (Nov-25) closed at £167.85/t yesterday, down £0.45/t from Monday’s close. The May-26 contract also eased, falling £0.15/t to £178.80/t.
• Domestic wheat futures followed global markets lower. Paris milling wheat (Dec-25) hit a fresh contract low amid expectations of ample global supply and strong export competition. Sovecon raised its forecast for Russia’s 2025/26 wheat exports to 43.7 Mt (from 43.3 Mt), while EU soft wheat exports reached 2.57 Mt (1 Jul–31 Aug), down from 4.60 Mt at the same point last year (though French data remains incomplete). Chicago wheat futures (Dec-25) dropped 1.1% after resuming trade following Monday’s US holiday.
• Nov-25 Paris rapeseed futures closed yesterday at €469.00/t, up €1.75/t over the day, supported by strength in the vegetable oil complex. Dec-25 Chicago soyabean oil and Nov-25 Winnipeg canola futures rose by 1.0% and 0.6%, respectively.

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