UK consumers covered – HGCA
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UK delivered old-crop feed wheat prices were unchanged to 50p weaker. Prices ended Friday in the mid- to high-70s.
Most consumers are reported to be well-covered through to February and the level of buying interest is reported to be less than in recent weeks.
Export markets were also quiet, with old crop prices ending the week 1 weaker.
- LIFFE weaker despite refund
LIFFE March and May 2001 wheat futures ended the week 40-65p lower on Friday, despite the EUs large export refund tender.
A stronger Pound and declines in the US futures markets also weighed on prices.
Trade volumes were reportedly thin, with many participants away at a trade dinner in Dublin.
New-crop LIFFE wheat futures ended 15-40p/t higher as the market focused on the pace of late winter wheat plantings.
Also of interest was the start of the September 2002 LIFFE wheat futures. Although not yet traded, it settled Friday (26 January) at 79.50/t.
1 = 63.04p, 1 = 1.586 on 29 January
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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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