HGCA UK delivered and export prices

Tuesday, 8 June, 1999

  • Trading on UK grain markets remained limited last
    week, with prices generally mixed. The strong pound
    was seen as the main reason behind the price drop in
    new crop values, although prices did not fall as much
    as the rise in the value of sterling suggested.

  • While old crop supplies are reported marketed in
    the north of the country, supplies are left in the
    south east. But farmers continue to be reluctant
    sellers, helping to support old crop prices.

  • Milling wheat prices on delivered markets fell by
    between 50 pence and 2 per tonne. The lower
    prices reflect that there is some quality wheat left
    unsold.

  • However, sterlings current strength has meant that
    imports of quality wheat (eg US or French origin)
    may be preferred by domestic users.

  • The current sterling strength has also meant that UK
    wheat is uncompetitively priced on export markets.
    Thus, export interest for UK wheat has remained
    very limited.

    HGCA
    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 0171-520 3972


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