Grain markets have plummeted over the past fortnight, with welcome rain and the stronger pound putting pressure on all commodities.

London wheat futures dropped by £12/t for July and almost £15/t for November in the two weeks to Tuesday (17 June), leaving ex-farm prices at about £99/t for spot movement.

Oilseed rape has also crashed, falling by about £22/t in the past week alone, to about £247/t ex-farm for June.

Traders said fund selling in the USA had contributed to the weakening markets, but added that little grain was actually trading.