Good demand, tight market for UK old-crop wheat

Wednesday, 23 June, 1999

  • Old-crop wheat was pushed higher on the delivered market due to demand from compounders and a tight spot market.

    Wheat hit £90 in Liverpool, for June delivery, as old crop prices climbed around £3 per tonne.

  • New-crop wheat prices were generally unchanged or slightly higher across England.

  • New-crop prices were higher in Scotland. This reflects the 20 per cent reduction in wheat acreage (as estimated by the HGCA planting survey).

    Scottish new-crop wheat is currently trading around £12 above the futures price on the delivered market. Above this level, wheat imports are expected to compete with domestic supplies.

  • The export market was reported to be very quiet, as prices remained generally unchanged.

    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 0171-520 3972

    Click here to visit the Home-Grown Cereals Authority

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