- Delivered bread wheat and feed wheat prices closed mixed last week, although within 50p of the previous weeks values.
- The respective UK delivered cereal markets were relatively quiet last week with low volumes being traded. The lack of fresh domestic supply and demand news to influence prices forced many in the trade to concentrate on currency monitoring and logistical issues relating to the fuel crisis.
- The monetary difference paid for ACCS and non-ACCS wheat supplies appears to have settled down to around 2.50/t, although it remains location specific.
- Traders met news regarding better than expected French wheat quality with some surprise last week. While it boosts the chance of EU exports resuming, the quality data presented suggests Hagberg values remain very low.
- UK wheat export prices ended the week mixed. A volatile currency remained the main influence on market prices, partly limiting trading activity towards the end of the week.
- Cover for the export of 50,000-60,000t of milling wheat (group I and group II) to Poland lent some support earlier in the week in an otherwise quiet market.
Taken from HGCA weekly MI Bulletin
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