HARVEST HAS finally progressed this week (w/e Sept 3) as fields dry out, but cereal markets remain quiet while buyers await quality results and damp grain is dried.

Traders claim that the harvest is now almost two-thirds complete, but while progress is rapid, most grain still needs to be dried before it can be sold.

Feed wheat values had eased by about £1/t over the week to Weds, Sept 1, as traders awaited an influx of grain for spot movement.

Ex-farm prices were at about £60/t for as-available movement, with a £3 premium payable for immediate delivery in some places.

November movement was only worth £60-£62, depending on the region.

Centaur‘s Richard Jenner said milling quality was holding up reasonably well in the south, but further north Hagbergs had fallen below 100 points.

“Any sort of decent quality will achieve some premium,” he said.

Full specification Group One varieties would make up to £25/t premium, with good quality soft wheat commanding £3-£4/t over feed wheat, he added.

Spring barley harvest was about 80% complete, said Glencore‘s Nick Oakhill.

But most maltsters were waiting to see exactly what quality the crop would produce.

Spring barley in the midlands and east was fetching £86-£87/t, with winters at about £75/t, he said. “But the market has not been particularly active.”

Buyers had already widened their quality requirements, accepting up to 2% Nitrogen in some cases, said Mr Oakhill.