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What could take UK grain prices higher this spring?
While global wheat supplies remain comfortable on paper, several supportive elements are emerging. Strong exports, constrained Black Sea flows, South American weather, and above all geopolitical tension in the Middle East create a developing risk profile. Downside pressure may continue to be gradual, but any external shocks, particularly through energy markets, could trigger a swift and meaningful rebound, providing new selling opportunities. In that context, UK wheat prices look open to upside potential if global events break in a supportive direction.
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