Feed wheat prices edge up despite slow Easter trading
© Tim Scrivener Feed wheat prices are starting to edge up and have increased by £1.80/t in the week to 30 March to average £100.50/t ex-farm.
There was very little variation in price, with the lowest April price reaching £97/t in Kent and East Sussex, while Yorkshire saw a high of £102/t.
Trade was quiet as a result of the Easter break, while attention focused on the lead up to the US Department of Agriculture report due on Thursday 31 March, according to grain traders.
The market gained some support from bad weather across the US, but there was still too much supply chasing too little demand in the UK.
See also: More on crop prices
Prices for milling wheat, feed barley and oilseed rape also saw increases in the week. Milling wheat rose almost £2/t to average £109.10/t ex-farm, while barley was up £1/t to £97.20/t and oilseed rape increased £4.30/t to average £263.5/t.
Futures prices improve
New crop feed wheat prices for August averaged about £105/t ex-farm, while August feed barley was up £2/t compared with 2 March prices, at £95/t.
Feed wheat futures were at £105/t for the London May 2016 contract on Wednesday (30 March), while the November 2016 contract was at £119.50/t.