As the USA bakes in high temperatures, grain prices continue to rise around the world. Here, new crop wheat is worth £166-£170/t ex-farm for harvest depending on location and the time it is called for delivery.
The London feed wheat futures contract for November 2012 delivery rose by a further £3.25 to £181.75/t yesterday (5 July), while November 2013 was up £2/t to £165/t.
Soaring wheat prices had prompted brisk farmer selling of new crop from harvest through to November over the past two weeks, said Fengrain managing director Rob Munro. "It's a classic end of season and weather market," he said.
Old crop wheat is worth £195/t ex-farm.