Wheat prices bounce back

It has been a quieter week for wheat markets, after falling £11/t last week.

Feed wheat averaged £145.80/t ex-farm as Farmers Weekly went to press (6 October), up slightly on last week. Milling wheat attracted a premium of around £25/t over feed.

Futures markets have continued to fall from their peak a fortnight or so ago, with November 2010 wheat averaging around £157/t at the time of writing, albeit up slightly on the previous day’s close.

Final results from the NFU harvest survey, showed only a small reduction in total cereal production, despite a 3% fall in yields. It put the total crop at 14.8m tonnes, similar to the five-year average of 14.9m tonnes.

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