• Delivered cereal prices closed on Friday unchanged on the previous week, across most regions and delivery months.

  • Traders reported another very quiet week for grain markets with little fresh information to lead prices away from their present values.

  • The old-crop campaign is drawing to a close as consumers have bought most of their pre-harvest requirements, farmers have sold virtually all their grain and little fresh export business is being witnessed.

    Prices have duly weakened in the last few weeks as harvest pressure increases.

  • New-crop wheat prices were slightly more volatile, following swings in currency markets and latest sentiment on the US cereal harvest.

    UK delivered new-crop prices could be relatively volatile over the coming weeks while the quality of the US, French and UK crops are made clearer.

  • UK export markets remained quiet last week, with little trade reported. Traders noted that prices are unchanged despite Sterling slipping slightly against the Euro.

  • With no new market factors, including farm supply remaining slow and foreign demand lacklustre, prices failed to move.

  • Traders noted that some earlier Iberian purchasers of barley had sold cargoes back to the UK, as prices there eased as the big harvest continues.

  • Euro1 = 62.81p, 1 = Euro1.5921 at time of writing.

    HGCA Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 020 7520 3972
    Click here to visit the Home-Grown Cereals Authority