Wheat prices reach new high

Wheat prices set another new record today (Thursday, 30 August) as futures markets jumped another £4.50/t

Feed wheat futures reached £174/t for November movement with £170/t ex-farm achievable in the New Year.

November 2008 futures traded at £134/t while November 2009 contracts struck £130/t.

Traders said these values were “unprecedented”.

Early forecasts from Australia are believed to indicate a crop of less than 20m tonnes. European and American futures markets have reached new highs.

Read more about what has driven the bull run on wheat prices