Ex-farm wheat prices continue to diverge from futures

The London feed wheat futures contract for July 2025 fell further to £155.55, down more than 2% on last week’s close, following global markets on the back of reports of strong wheat crop development in the US.

On Hectare Trading, we saw feed wheat ex-farm prices hold up more, with price offers of £175 in Central Scotland for July 2025 movement and £173 in Yorkshire and the Humber. 

Paris milling wheat also declined through the week, with the September 2025 contract falling below the €200 threshold to close at €198.75 (£167.64) on Thursday. With the London feed wheat November contract priced at £177.00, UK wheat remains uncompetitive for exports at current prices, despite talk of a harvest surplus.

On Hectare Trading, Group 4 wheat received price offers of £182 with a £9 offer range in Central Scotland for July 2025 movement and new crop achieved £171 with a £6 offer range in East Anglia for harvest movement. Group 3 reached £180 in North East Scotland for June movement, while new crop saw offers up to £170 in East Anglia for August.

Paris rapeseed slipped slightly to €485.75 (£406.76) for August 2025. However, Israel’s actions in Iran could lend some support on Friday; crude oil has already risen by more than 7% at the time of writing. Prices on Hectare Trading reached £405 with a £10 offer range in Northumberland & Scottish Borders for November 2025 movement.

Elsewhere on Hectare Trading, feed barley achieved offers up to £175 in Central Scotland for June, although new crop continues to struggle with prices for East Anglia at £142 for August. In the West Midlands, we saw offers of £600 for linseed in June with an offer range of a whopping £50.