Grain prices have started the New Year on a high, boosted by the weaker euro and stronger EU and US trade.
Feed wheat prices are about £15/t higher than pre-Christmas values, at £102/t ex-farm for January movement. New crop values have also improved, by around £10/t, to £117/t for November, amid concerns over the impact of recent cold weather on European crops.
Milling premiums have narrowed slightly, to £40/t for full-specification Group 1 varieties, and feed barley has enjoyed a £10/t rise, to about £91/t.
The euro has weakened by about 6% against the dollar over the past three weeks, sending French wheat and oilseed rape future prices sharply higher. British markets have followed suit, with rapeseed rising by £20/t over the Christmas break, to about £252/t ex-farm.