Tuesday, 11 May, 1999

  • Delivered prices lost last weeks price recovery. Old-crop wheat was down by as much as £1.50 per tonne.

  • The correction in the price of wheat reflected the supply and demand estimates.

  • The latest MAFF estimates suggest wheat supplies are still more than ample to meet domestic requirements for the remainder of the season.

  • Old-crop bread wheat gained support for nearby demand.

  • Export prices reflected the lower values on the domestic market.

  • The trade reported no fresh export business despite downward price movement.

  • Export prices followed the French market lower, as crop prospects on the Continent point to another large wheat crop.

  • With only limited export interest, the trade highlighted the possibility of rising export availability.

    HGCA Taken from HGCA weekly MI Bulletin
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