• Delivered prices ended last week mixed, with old-crop feed wheat prices higher and new-crop prices generally lower.

  • Traders reported a quiet start to the week, with trading volumes only picking up as the week progressed.

  • Old-crop feed wheat prices continue to receive support from port demand. However, sourcing grains in the port locality is becoming difficult, especially as ex-farm prices remain under 70/t.

  • New-crop prices weakened following the announcement of higher minimum intervention quality standards likely to be introduced next season. This is likely to increase quantities of wheat on the EU free market. Other factors pressuring prices included weaker Chicago Board of Trade (CBOT) new-crop wheat futures, a stronger Pound and recent MAFF planting data suggesting higher wheat plantings.

  • Prices on UK export markets for feed wheat were mixed, with old-crop values generally higher and new-crop values 50p/t lower.

    HGCA Taken from HGCA weekly MI Bulletin
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