Ensus returns despite global surplus pressure
Our benchmark spot prices (Midlands & Wales)
Feed Wheat
The global wheat market continues to be weighed down by heavy surplus supply and high projected volumes.
India has lifted its wheat export quota by 2.5 million tonnes of wheat exports (bringing the total allowed to 5 million tonnes) to steady domestic prices ahead of a projected record 120 million tonne harvest.
Meanwhile, the Ensus bioethanol plant on Teesside has now reopened with UK government support, potentially increasing demand for feed grain in the North East.
The “old crop” May 2026 contract of London feed wheat inched forward at the start of the week, ending Wednesday at £178.00; Thursday saw a very slight retreat to close at £177.95.
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Milling Wheat
The surge in fertiliser costs due to the Middle East conflict, combined with continued drought conditions in the Southern Plains, caused US hard red winter wheat to post its biggest weekly gain in nearly two months on the Chicago exchange last week.
By contrast, Paris milling wheat (May 2026) has weakened steadily since dropping below €200 on 8 April, finishing last week at €191.25 (£166.71), in part due to a stronger Euro to Dollar. A brighter start to the week saw the contract settle on Tuesday at €195.75 (£170.37), and crept upwards to €196.75 (£171.17) by Thursday’s close.
On Hectare Trading, there has been forward-selling of 2026 milling wheat in Scotland and the South of England.
Feed Barley
Ukraine’s feed barley exports have dropped 58% year-on-year, facing stiff competition from French and German supplies into North Africa. Turkey is also projecting an increased domestic crop in 2026 – from 5.1 million tonnes last year to 7–8 million tonnes – reducing its reliance on imports.
Oilseeds
Brazil expects a record soybean harvest this year of 179.2 million tonnes. However, doubt was cast over long-term demand from Brazil’s main soybean export destination, as the Chinese government detailed a strategic plan to cut soybean imports by roughly 26% to 82.55 million tonnes by 2035 to improve food self-sufficiency.
Farmers in Western Australia are responding to the fuel and fertiliser crisis by expanding rapeseed production at the expense of wheat. Meanwhile, the world’s largest rapeseed producer, Canada, expects to achieve 19.2 million tonnes in 2026/27.
After a sharp fall last Friday, Paris rapeseed started the week on the front foot due to high crude oil prices, as commercial shipping through the Strait of Hormuz remains severely restricted. The May 2026 contract climbed €12 over Monday and Tuesday to close Tuesday at €517.75 (£450.62), creeping upwards on Wednesday before jumping €25.50 on Thursday to close at €547.75 (£476.54).
Wanted Crop
🌾 G1, G2 or G4 Hard Milling Wheat is wanted from East Anglia and East Midlands for April–May movement with a guide price of £170–177/t ex-farm.
🌾 G1 Milling Wheat is wanted from the West Midlands for April movement with a guide price of £183–185/t ex-farm.
🌾 Feed Barley is wanted from Northern England and Scotland for April–June movement with a guide price of £150/t ex-farm.
🌾 Feed Wheat is wanted from the West Midlands for April–May movement with a guide price of £177–182/t ex-farm.
🌾 Oats (min 44kg/hl) are wanted from the West Midlands and Wales (Mid, South, West) for April movement with a guide price of £120–128/t ex-farm.
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.