Floods and Euro boost UK wheat prices

UK feed wheat prices rose 50p-1 in most positions from last week, while bread wheat prices were unchanged to 50p higher in the nearby. This left premiums ranging between 10 and 12 for most regions. Only Yorkshires premium rose 3 higher to 14.50 following severe floods in York, which has seen the worst of the UK flooding.

Farmers who have been hit by the recent spate of floods could receive special dispensation when they submit their claims for the 2001 Arable Payments Scheme. If they can show that the flooding prevented them from sowing their
crops now – but they could sow later – or can only put their land into set-aside, MAFF will request special derogation to the normal rules from the Commission. Further details are available from local Regional Service Centres.

MAFF has announced that a further 18 million will be made available to aid the conversion of farmland to organic production next year. Competition for the available funds is expected to be strong since the scheme has been closed
for over a year due to limited funds.