• Delivered feed wheat prices firmed slightly last week, although bread wheat premiums slipped.

  • Continued port activity and currency movements are largely determining delivered wheat prices. Shippers still require February and March supplies for boats booked pre-Christmas. However, strong exchange rate fluctuations made trading conditions difficult.

  • Consumer demand remains focused on spot positions, although some millers have been active over April/June. Interest in new crop remains limited.

  • Prices on export markets were also higher, improving by between 50p and 1.75/t over the week. Support was derived from a weaker Pound for most of last week, triggering some buying activity from the Continent. However, with Sterling regaining strength on Friday, much of the UKs competitiveness was erased and export interest subsided.

  • New export business, for nearby months, has not been ruled out, but shippers remain cautious about exchange rate risks and reduced levy maize imports into Spain.

    HGCA Taken from HGCA weekly MI Bulletin
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