Boost for UK wheat prices – HGCA

  • Wet weather and stronger Euro boost wheat prices

    New-crop concerns underpinned the stronger delivered market, with the floods and interrupted winter wheat plantings continuing to hit the news.

    Feed wheat prices were generally 1-2 higher on delivered markets. Bread wheat prices were 1.50-3 higher.

    Export prices were less firm, rising a more modest 25p-1. LIFFE wheat was firmer across the board, with new-crop wheat accounting for over 40% of the 2650 lots traded.

    January 2001 wheat closed nearly 9 higher than January 2000. Sterling remained unchanged against the Euro, at around 60p, but slipped a further 2US¢ against the dollar to $1.40.

  • Wheat stocks up, barley down

    Around 11.8 million tonnes of wheat were held in on-farm stocks in England and Wales at the end of September according to MAFF.

    This compares to a five-year average of 11.1m tonnes. Barley stocks, in contrast, are the lowest since 1995 at 2.6m tonnes.

    The pattern of higher wheat and lower barley stocks was repeated in both the ports and co-ops stocks.

  • On-farm grain usage rises

    On-farm wheat usage is up 22,000t during the July to September period according to MAFF, at 154,000t. Barley usage is up 27,000t, at 186,000t.

  • MBM bans raise protein feeds

    UK soyameal and rapemeal prices saw strong interest from the ongoing meat and bonemeal ban in France and Italy, plus news that it might be imposed in Germany. Traders reported the UK feeds market waking up because of the ban.

  • Euro1 = 59.66p, 1 = Euro1.676 at time of writing


    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 020 7520 3972

    Click here to visit the Home-Grown Cereals Authority

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