Strong Pound, poor demand depress UK cereal prices
- Delivered UK cereal prices closed lower last week.
Bread wheat prices fell by around 1.50/tonne,
feed wheat prices closed 2/t lower.
- Delivered feed wheat prices have now fallen around 4/t since early October, pulling milling
wheat prices lower too.A combination of the strong Pound, limited consumer buying demand and sufficient farm grain being made available has
pressured UK prices lower.
- Bread wheat premiums over feed have also fallen,
from around 19/t early October to 16/t last week, basis Liverpool.Brokers suggest the price fall reflects the ready availability of suitable wheat in the marketplace and cautious buying from the milling industry.
- Despite ex-farm prices now being under 60/t across the country, merchants report steady but continued farm grain sales.
1 = 57.60p, 1 = 1.736 at time of writing
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Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority |
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