Wheat markets diverge on currency and supply pressure: Grain market daily

• UK feed wheat futures showed mixed movements yesterday. The Nov-25 contract dropped £1.15/t to a new low of £163.50/t, pressured partly by a stronger sterling against the US dollar and abundant global wheat supply. In contrast, the May-26 contract gained modestly £0.50/t, finishing at £174.15/t.
• Chicago wheat futures (Dec-25) rose by 0.8%, supported by short covering and spillover strength from maize, as concerns over lower-than-expected maize yields in parts of the US Midwest lifted maize prices. Conversely, Paris milling wheat futures (Dec-25) declined by 1.2%, weighed down by competition from Argentine exports and a firmer euro against the US dollar.
• In Argentina, the Buenos Aires Grain Exchange reported that cold weather forecasts for next week could affect the wheat crop during its critical development stages.
• Paris rapeseed futures (Nov-25) climbed €1.25/t to settle at €467.75/t, supported by strong US soyabean prices. Chicago soyabean futures (Nov-25) increased by 0.4%, driven by robust domestic crush demand, which helped to ease concerns over trade tensions with China.
• Overall this week, UK and global grain markets remain influenced by weather, currency fluctuations, supply outlooks, and international demand dynamics, with some support seen from import activity but pressure from ample supply is limiting price recovery.

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