UK delivered wheat market weaker – HGCA

- 12 December 2000

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Delivered wheat market weaker, barley unchanged
THE UK old-crop delivered wheat market lost 50p-2/t, with prices for December feed wheat close to 70 in most regions.

New-crop prices were largely unchanged with prices now around 9/t above this season. Slow farm selling and immediate requirements having largely been met continued to see brokers looking to the new crop.

LIFFE November 2001 wheat continued to pick up heavy trade ending the week with a quarter of the 3092 tonnes traded for the week.
Bank of England leaves interest rates unchanged
Thursday saw the Bank of England leave base rates unchanged at 6%. The 10-month period of interest rate stability is the longest since 1989/90.
UK Intrastat EU trade data for September
UK wheat exports to EU countries totalled 442,000 tonnes for September, while barley exports reached 49,000 tonnes.

This puts total EU and non-EU end-September wheat exports at 591,000 tonnes compared to 434,000 tonnes last season. Total barley exports at 483,000 tonnes are above the 321,000 tonnes exported to end-September last season.
UK non-EU trade data for October
UK total wheat exports to non-EU countries reached 60,000 tonnes for October. Poland took 27,000 tonnes. Algeria, Morocco and Tunisia together took about 23,000 tonnes.

Non-EU barley exports reached 36,000 tonnes and mainly went to Eastern Europe and the Middle East.

October non-EU wheat imports were 52,000 tonnes, taking end-October non-EU imports to 276,000 tonnes.