27 August 1997
Grain market update
Tuesdays trading – 26 August 1997
A FALL in the value of Sterling, lack of farmer selling and consumer interest in the September position all contributed to a firmer market yesterday. This still makes the UK uncompetitive on the forward market and a correction will happen at some stage, whether it be in Sterling or market values.
Early September feed wheat is valued around £81/t with premiums available for better quality. September barley is valued around £72-74 ex-farm, depending on location relative to the ports.
Harvesting has come to a halt in most areas of the UK, with as much as 80% still to combine in parts of Yorkshire. Farmers should try and keep separate any wheats cut after the rains, or at least mark the sides of the store – this will lead to fewer problems when selling or delivering, as there will be a large variance in quality.
Chicago finished slightly down, following the decline in corn and no fresh export news.