Port activity holds up cereal prices HGCA

  • Delivered wheat prices ended last week mixed. Old-crop feed wheat prices fell by 50p-£1.50/t, while new-crop feed wheat prices were 50p-£1.75/t higher.
  • Sterling ended the week firmer at DM3.12. Prices did not fall as much as was expected from the stronger Pound, as port activity continued to support delivered and export prices.
  • Little grain buying by UK processors was reported last week, as nearly all pre-Christmas requirements have been secured. However, an interest in April/June and new crop business was noted.

  • UK export markets were easier last week, losing 75p-£1.50/t for feed wheat. This was mainly in response to the continued strengthening of the Pound. Although the Pound has eroded some of the UK competitiveness on EU
    markets, trade sources reported ongoing export enquiries from Mediterranean countries.

  • The delay of further reduced-levy maize tender volumes in Spain and Portugal has increased demand for other feed grains. Reports also indicated demand for bigger boats from third countries.

    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 020 7520 3972

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