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2025-12-18 19:07:04
[Global Grain Market Diverges: UK Barley Planting Plummets, Wheat Futures Rally] ⑴ UK feed wheat futures prices rose on Wednesday, partly supported by a weaker pound. The May 2026 contract closed at £169.00 per tonne, up £0.75 from Tuesday. ⑵ The new crop (November 2026) contract rose £0.65 to settle at £171.90 per tonne. ⑶ The pound weakened against both the dollar and the euro, closing at $1.3375 and €1.1385 respectively. This change occurred after the UK Office for National Statistics reported that November's consumer price inflation rate fell more than expected to 3.2%. ⑷ In contrast, Chicago wheat and Paris milling wheat futures (May 2026 contract) both fell 0.4% yesterday, hitting new contract lows, mainly due to ample global supply and continued pressure from the Ukraine-Russia peace talks. (5) Paris rapeseed futures (May 2026 contract) closed at €461.25 per tonne yesterday, down €1.25 on the day, following the decline in Chicago soybean and Winnipeg rapeseed futures. (6) In addition, the USDA reported sales of 198,000 tons of US soybeans to China, and the market continues to focus on China's progress toward achieving its 12 million-ton purchase target by the end of February 2026. (7) Analyst insights indicate that UK barley planting area is expected to fall to a 15-year low, which could become a structural factor supporting domestic grain prices in the future.
