HGCA sees slow pre-Christmas business

  • Prices remain unchanged to slightly lower over last week, with spot wheat commanding around £73.50/t delivered East Coast.
  • Trading on UK delivered and export markets remained quiet ahead of the Christmas holiday period. Only the London wheat futures markets appears to be trading significant volumes at present.
  • Merchants were reportedly occupied with book-squaring and the logistics of moving grain in a tight haulage market.
  • Wheat export prices improved by between 50p and £1/t for nearby positions but fell by between 25p and 75p further forward.
  • UK export business remained limited last week, with only some activity reported for spot positions. Buying interest from the Continent has subsided slightly as the firm Sterling and higher freight costs have reduced the competitiveness of UK grain on export markets.

    Taken from HGCA weekly MI Bulletin
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