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Feed Wheat Prices Take a Tumble – HGCA

- 01 August 2000
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  • UK delivered feed wheat prices fell up to 1/t last week across most regions. Feed barley prices firmed between 50p and 1/t and bread wheat prices closed around 1/t higher.
  • Traders have all but finished quoting old crop prices in lieu of the impending wheat harvest.
  • Feed wheat prices fell largely in line with French wheat prices, although a stronger sterling added to the downward pressure.
  • The lack of harvest-friendly weather helped support UK bread wheat premiums, as traders believe that quality could be negatively impacted by the localised wet conditions. However, until cutting begins in earnest in the next 7-10 days, it remains too early to predict grain quality with confidence.
  • Barley prices continue to be supported by international interest, although actual volumes traded are reportedly minimal.

  • UK feed wheat export prices slipped around 75p/t last week, as sterling was slightly stronger and the expectation of feed wheat supplies from France
    grew. Traders noted that of particular concern was that quality problems seem to be in the catchment areas of French ports.

  • Premiums for coaster sized milling wheat vessels rose to around 3.50/t, with the outlook for reduced supplies elsewhere in the EU, but little has traded.
  • Barley continues to command a strong premium to wheat, with non-EU demand highlighted as good.
  • Euro1 = 61.5p, 1 = Euro1.62494 at time of writing.

    HGCA

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

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