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UK cereal prices down on all fronts – HGCA

- 23 May 2000
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  • Delivered cereal prices ended last week lower across the board.
  • Old-crop bread and feed wheat prices fell by 1-3/t. Old-crop barley has all but finished, and is now largely unquoted. New-crop cereal prices fared slightly better, falling only 50p/t by Fridays close.
  • Traders reported a very quiet week, with only small volumes being traded. However, they also noted that the recent supply squeeze for old-crop grain has now been reversed, with adequate availability of grain for the current level of demand.
  • Currency movements, as ever, influenced proceedings last week. While the Pound fell heavily against the Dollar, it remained firm against the Euro, maintaining pressure on new-crop UK cereal prices in particular.
  • Trading on UK export markets remained quiet, with both sellers and buyers largely absent from the market.
  • Prices continued to come under pressure from strengthening Sterling and the looming harvest, leaving buyers, in particular, sidelined.
  • Old-crop wheat lost 2/t, while new wheat was unchanged to 50p/t lower.

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


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