Monday Market Briefing - 9th November 2026

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Grains drifted a little more last week, slightly caught up in the post midterm election sell off. This week we have US mediated talks between Russia and Ukraine where markets have mostly priced in a deal of some sort. There is talk of a ceasefire being possible but for once there isn’t much leaking ahead of the talks so we will have to wait and see.  There would inevitably be a short-term drop in grain prices if something material emerges but it should be the case that the war premium is out of the market now. Crude oil, whilst still elevated, is now 16% off its October peak with the US making positive noises around the latest peace proposals for Iran.

Post Christmas trade domestically was a bit sharper as the week went on with some better deals going through. We still expect feed wheat imports to be a factor in the later months of this season and that should be enough to maintain support in Jan June positions with other grains and grades having to adjust around that.

Have a good week.