London Wheat Report
A day of thinner volumes across London wheat today after several days of market volatility had spurred on the market. All London contracts traded further up but cumulatively only managed 238 lots. Matif wheat, on the other hand, managed yet another day of strong volumes and also ended the day in the green across all traded expiries.
News from the continent: FranceAgriMer today reportedly cut for a fourth straight month its forecast for French soft wheat exports outside the European Union in 2025/26, leading it to raise its outlook for end-of-season stocks to a 16-year high. France has faced stiff export competition, including from a record crop in Argentina. The office increased marginally its forecast for French soft wheat shipments within the EU in 2025/26 to 7.57 mmt from 7.56 mmt previously and 6.81 mmt in 2024/25.
Further afield, soybean futures initially rallied for a second straight session on Wednesday, as crude oil recovered from a day-earlier plunge while investors worked to deal with disruption caused by the U.S.-Israeli war with Iran. This rally appeared to run out of steam, however, into the evening.
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