Over the last month, domestic and global wheat prices have seen a modest rise, according to AHDB Pork analysis. In the UK market, from 25 August to 22 September, Nov-17 feed wheat futures gained £1.60/t to settle at £141.20/t, while Paris Dec-17 wheat rose E3.75/t, closing at E164.75/t on 22 September. Chicago Dec-17 wheat futures gained $5.24/t between 25 August and 22 September, closing at $165.15/t.
Domestic supplies of wheat have been estimated to be tight for 2017/18. On 31 August, Defra published estimated cereal stocks held on farms in England and Wales and by Merchants, Ports and Coops in the UK at the end of June. The survey findings revealed that wheat stocks fell to the lowest level since June 2014, a 48% reduction on the year. Additionally, barley stocks were estimated to be 33% lower than in late June 2016 and the lowest since June 2013.
Global oilseeds market performance has been mixed over the past month, with Chicago soybean prices seeing largely steady increases whilst Paris rapeseed has displayed some volatility but has fallen overall over the same period. Nov-17 Chicago soyabean futures rose by 2.8% between 25 August and 21 September, closing at $356.40/t.
Brazilian soyameal prices (48% ex-store Liverpool) have remained fairly steady over the past month, falling £1/t by close on the 15 September, to £294/t. Between 25 August and 21 September Nov-17 Paris rapeseed futures fell by 0.9%, closing at E367.30/t on 22 September. Delivered rapeseed prices (Erith, Nov delivery) in the UK were £324/t on 22 September, a decline from £340.50/t on 25 August.
