HGCA sees wheat price rise continue

DELIVERED wheat prices continued their rise of recent weeks, moving a further 1-2/t higher on Friday (27 April).

Feed wheat prices continued to trade in the low-to mid-80s with milling premiums still firm.

Old-crop bread wheat, delivered Liverpool, traded 16 above feed while new crop was 20 higher.

Physical prices were underpinned mid-week by a firmer futures market.

Compound and merchant buyers were most visible for some spot and June/July cover amid a market still short of supply.

Barley trade saw limited compounder interest for new crop. Export markets remained quiet with weather the main influence on new crop prices.

Old crop fob prices fell below delivered in the week.

MAFF left its annual April supply and demand estimates unchanged from its March release. The next revision will be published on 16 May 2001.