Our benchmark spot prices (East Midlands)
Feed Wheat
Talk of diplomatic progress gave buyers brief breathing room, but Black Sea shipping remains disrupted with Russian and Ukrainian October exports down over 40%.
Closer to home, a tight UK balance sheet and a 12Mt harvest leave total availability near 16.3Mt, requiring 2.75Mt of imports. Meanwhile, the Autumn Budget's confirmed APR inheritance tax cap is tightening farm-gate cash-flow discipline. With no tax U-turn, forward budgeting and securing floor prices on 2027 grain are now vital for managing working capital.
London feed wheat futures trended lower early in the week. The November contract hitting a low of £191.75 on Tuesday, before staging a modest recovery to £192 on Wednesday and closing at £193 on Thursday.
For full spot and futures market analysis, check our Insights on Hectare Trading.
Milling Wheat
Quality is driving a sharp split in milling markets this week. Weather-damaged Canadian crops and tight French high-protein stocks are pushing up premiums for quality grain abroad. In contrast, high protein levels in this year's UK harvest mean domestic millers won't need to hunt for expensive imports.
Overseas, Turkey is leaning heavily on state reserves, releasing 5.5Mt of wheat to local mills to curb foreign buying. Meanwhile, EU soft wheat exports hit 9.5Mt, moving well ahead of last year's pace to fill the ongoing gap in Black Sea shipments.
Paris milling wheat futures saw an early drop followed by mid-week stabilization. The December 2026 contract fell sharply from €234 to €226.50 (£188.85) on Monday. After bouncing to €228.50 (£190.52) on Tuesday, the contract settled at €227 (£189.27) on Wednesday and held flat through Thursday.
Feed Barley
A short UK crop is keeping domestic barley supplies unusually tight this season. Production fell over 750,000 tonnes to 5.6Mt with the English harvest down 11% to 3.7Mt, its lowest level since 2012. After a dry summer across the south, total UK availability sits down 8% at 7.2Mt.
At the farm gate, demand remains stubbornly sluggish. Weak beer and spirit sales mean maltsters are sitting on their hands, forcing surplus malting barley into feed channels. That keeps feed barley priced at a sharp discount to hold its place in compound rations against wheat and maize.
Oilseeds
European rapeseed crop damage from summer heatwaves forced the USDA to cut EU oilseed output to 32.3Mt, boosting import needs by 7%. Conversely, UK growers saw production bounce back 43% to 1Mt.
Commercially, the Autumn Budget's tariff cuts on imported fertiliser from the 26th of November offer welcome relief for 2027 crop input costs. Lowering spring top-dressing expenses directly improves gross margins, giving UK growers clearer numbers when calculating forward selling targets for new-crop rape.
Paris rapeseed futures started the week strong, the November contract climbing €15.50 to €527.25 (£439.61) on Monday before pulling back sharply to €518.50 (£432.32) on Tuesday. The contract rallied strongly into the second half of the week, reaching €528.25 (£440.45) on Wednesday and finishing at €528.75 (£440.86) at Thursday’s close.
Wanted Crop
🌾 Group 4 - Hard wheat (also accepting G1 or G2) is wanted for collection in the East Midlands and East of England. Movement November 2026 with a guide price of £190–195/t ex-farm (subject to distance from mill).
🌾 Group 1 wheat is wanted for collection in the East of England and East Midlands. Movement November 2026 with a guide price of £200–205/t ex-farm.
🌾 Feed wheat is wanted for collection in the West Midlands and South West. Movement January–March 2028 with a guide price of £205–210/t ex-farm.
🌾 Group 1 wheat is wanted for collection in Yorkshire and the Humber. Movement this month (October 2026) with a guide price of £210–215/t ex-farm.
🌾 Group 4 - Hard wheat is wanted for collection in Yorkshire and the Humber and the East Midlands. Movement November 2026 with a guide price of £202–205/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.