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.
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).
The export market was reported to be very quiet, as prices remained generally unchanged.
Wheat hit £90 in Liverpool, for June delivery, as old crop prices climbed around £3 per tonne.
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.
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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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