Our benchmark spot prices (East Midlands)

Feed Wheat

Wednesday’s US WASDE report was alarming if not unexpected, as heatwaves have devastated wheat production in the US and Europe.

The USDA lowered its EU wheat production forecast by 1.8 million tonnes to 134.2 million tonnes, although some private European analysts estimate the crop even lower.

The report also cut the projected UK wheat crop to 12.0 million tonnes, a sharp reduction of 1.5 million tonnes from July predictions.

Global wheat ending stocks nonetheless increased to 273.3 million tonnes, as lower global production was entirely offset by higher beginning stocks and backed-up grain in Russia and Ukraine that cannot find export channels due to the ongoing Black Sea hostilities.

After finishing last week just short of £200, November 2026 London feed wheat gave up ground at the start of the week, dropping to £197.00 by Tuesday’s close. The contract then broke through to £200.50 on Wednesday, pushing slightly higher to finish Thursday at £201.00.

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Milling Wheat

The US hard red winter and durum wheat crops have suffered from severe, prolonged drought across the Great Plains, with Kansas facing its smallest winter wheat crop since the 1950s (estimated at 5.3 million tonnes, down 43.5% year-on-year), while Nebraska’s output has fallen to its lowest level since 1917.

This poor performance is largely responsible for a projected 22% drop in total US wheat production from 54.01 million tonnes last year to 41.66 million tonnes this year.

US HRW wheat exports are now projected to plunge to 5.7 million tonnes, compared to 8.7 million tonnes last season.

Paris milling wheat futures began the week with a downward drift, the September 2026 contract falling to €217.75 (£186.32) on Monday and €213.25 (£182.29) on Tuesday. The contract bounced back well to €220.50 (£188.21) on Wednesday, and €221.50 (£189.37) at Thursday’s close.

Feed Barley

In a highly challenging production season for UK growers, attention now turns to spring barley. Early reports reveal extreme regional volatility, ranging from average yields in some pockets to losses approaching 50%.

Barley quality reports across the UK are also highly variable, potentially creating an abundance of feed barley supplies. Elevated screening levels and poor grain retention are expected to result in significant volumes of intended malting barley being downgraded into feed channels.

Oilseeds

Despite worries over persistent dryness in southern growing areas of the Canadian Prairies, the overall production outlook remains strong. The USDA raised its Canadian canola crop estimate by 0.5 million tonnes to 22.5 million tonnes.

While Brazil produced a record 180.6 million tonnes of soybeans in 2026, the country’s multi-decade run of acreage expansion is expected to halt in the 2026/27 season, as tighter profit margins are forcing Brazilian growers to prioritise yield improvements over expanding into new land.

Reflecting weak early-season processing demand, the EU imported just 657,000 tonnes of soybeans between July 1 and August 2 – a dramatic 50% decline compared to the same period last season.

Paris rapeseed futures have built on their positive start to August. The November 2026 contract climbed to €538.75 (£460.98) on Monday, dropped €4 on Tuesday but recovered to €536.75 (£458.16) on Wednesday, before pushing on to €540.50 (£462.11) by Thursday’s end.

Wanted Crop

🫘 Feed beans wanted for collection across Scotland and Northumberland. To move from October 2026 to February 2027. Guide price of £218–230/t ex-farm.

🌾 Group 1 wheat (13/76/250) required for collection in the West Midlands and Yorkshire and the Humber. Moving in August, with a guide price of £206–212/t ex-farm.

🌾 Feed wheat is wanted for collection in the Scottish Borders and Northumberland, for movement this month. Guide price of £195–196/t ex-farm.

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This article is for general information only and does not constitute advice. While we make every effort to ensure the accuracy of the content at the time of publication, Hectare Trading makes no guarantee regarding the data provided.