- Last week delivered bread wheat prices fell between 1.00-3.50/t and feed wheat prices between 50p-2.00/t. Feed barley prices closed mixed.
- Despite Sterling being pushed slightly lower against the Euro last week, UK delivered wheat prices weakened across the board. A combination of supply/demand factors and crop quality issues pressured prices lower.
- Merchants confirmed that producers were beginning to offer more supplies of wheat to the market last week whilst 60/t, ex-farm, is achievable for many regions.
- Premiums for full specification bread wheat narrowed to between 14-18/t, depending on region, partly as a result of increased grain supplies being made available.
- UK wheat export prices fell nearly 2/t over the week. Traders noted that they remain concerned that UK group 3 wheat may not be suitable for many foreign milling purposes.
- Barley prices remain robust, if little traded. Export traders noted that big boats could be sold at about a 4/t premium to coasters, but trade is thin.
- Export traders suggest that wheat samples sent to overseas buyers are getting a mixed response. They report that some overseas buyers still prefer French wheat due to its better suitability, despite lower Hagberg numbers.
- Traders also noted that premiums for basic milling wheat had fallen to 75p-1/t.
Taken from HGCA weekly MI Bulletin
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