Wheat markets have dropped sharply this week, with the recent sunny weather hailing the onset of harvest in the UK.

While much of the crop has already been sold forward, a few more spot sellers in the market has knocked feed prices down by around £13/t, to about £117/t ex-farm for August, depending on location.

Heatwave

However, oilseed rape values have risen by over £4/t, to average £190/t for August.

This has been on the back of lower than expected yields across Europe, combined with a stronger soya market in the US due to a forecast heatwave, claim traders.

Stable potato prices

Meanwhile, potato prices have eased, with the British Potato Council’s weekly average price dropping by £5/t, to £135/t.

Market information manager Rob Burrow said this was a reflection of the movement of better quality crops last week than this week.

“We’re expecting prices to be fairly stable leading up to the main harvest period when we’ll see what the condition of the crops in the ground is really like.”