UK grain loses last weeks gains

Tuesday, 11 May, 1999

  • Delivered prices lost last weeks price recovery. Old-crop wheat was down by as much as £1.50 per tonne.

  • The correction in the price of wheat reflected the
    supply and demand estimates.

  • The latest MAFF estimates suggest wheat supplies are
    still more than ample to meet domestic requirements
    for the remainder of the season.

  • Old-crop bread wheat gained support for nearby
    demand.

  • Export prices reflected the lower values on the
    domestic market.

  • The trade reported no fresh export business despite
    downward price movement.

  • Export prices followed the French market lower, as
    crop prospects on the Continent point to another
    large wheat crop.

  • With only limited export interest, the trade
    highlighted the possibility of rising export availability.

    HGCA
    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 0171-520 3972


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