Buoyant UK demand for April/May HGCA

  • Delivered old-crop wheat prices rose 2-3/t last week depending on region. New-crop wheat prices fell, closing around 50p/t, depending on region.

  • Domestic consumer considerations are beginning to exert an influence on UK delivered markets, rather than the recent demand for grain at ports. Delivered
    prices are only slightly lower than FOB prices now, making the UK wheat market relatively detached from international considerations.

  • Delivered prices were largely influenced by the supply side of the equation as a distinct lack of farm grain was made available. Indeed, short covering by merchants for old-crop deliveries were instrumental in pushing prices higher.
  • Consumer buying demand for April and May delivery months is reportedly buoyant.

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


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