Intense global competition weighs on UK and European grain markets
Feed Wheat
Argentina has been ramping up wheat exports into an already well-stocked global market, buoyed by President Milei’s reduction of grain export taxes. Meanwhile, France has reduced its forecast for wheat exports outside the UK in response to this intense global competition.
London feed wheat (May 2026) continued to weaken in line with global markets this week, sinking to a new contract low of £168.25 on Tuesday, before recovering slightly to close Thursday at £170.05.
Our benchmark price for Midlands feed wheat on Hectare Trading is now £168, unchanged from last week. For more spot and futures price analysis, visit our enhanced Insights on Hectare Trading.
Milling Wheat
UK milling wheat prices, like the broader grain market, have been heavily influenced by strong competition for international markets, while gains for sterling and the euro against the US dollar in early December have dented wheat export competitiveness.
Paris milling wheat (March 2026) has been weak in the market, falling from last Friday’s close at €189.00 (£165.53) to finish Thursday at €186.00 (£162.90).
Our benchmark milling wheat price in the Midlands has risen by £4 to £178 this week, although milling premiums continue to languish at low levels. Farmers have also been forward-sellling 2026 group 1 wheat this week in East Anglia.
Oilseeds
Falling Brent crude oil prices have weighed on the vegetable oil market, which subsequently affects oilseed prices. Meanwhile, expectations for a large UK OSR crop in 2026 are adding to pressure on domestic prices.
The February 2026 contract of Paris rapeseed has fallen sharply away from last Thursday’s close at €478.75 (£419.29), sinking to €469.25 (£410.97) on Tuesday before ending Thursday at €461.00 (£403.75).
In Scotland, our benchmark spot price for OSR on Hectare Trading is currently £414.
Other Crop
According to AHDB, the total UK barley area for harvest 2026 will decline by 10% year-on-year due to sustained low prices. Malting barley growers also face reduced demand from brewers and maltsters.
Similarly, AHDB forecasts a 14% drop in the planted area for oats and a 12% drop for pulses. The general picture for harvest 2026 is a significant increase in OSR offset by falls elsewhere, especially in spring barley.
Our benchmark spot price for feed barley in the Midlands now stands at £154, down £3 on last week, while we have seen offers up to £164 in Yorkshire and the Humber for movement this month.
Wanted Crop
🌾 145t of group 1 winter wheat is wanted for collection in the East Midlands and East Anglia for a milling home in Lincolnshire. Spec required 13/76/250. Prices upon application for January 2026 movement.
🥣 29t Mascani Oats (minimum 50kg) required for collection from the South East, for February or March 2026 movement. Price upon application.
This article is for general information only and is not an instruction to trade. 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.