UK grain market awaits start of EU harvest

Tuesday, 15 June, 1999

UK grain markets saw another quiet week with most players awaiting the start of the grain harvest in the EU in the next weeks.

  • Old-crop feed wheat on delivered markets continued to be sought after by consumers.

    But with farmers still reluctant to sell, supplies remain limited and prices supported. Thus, June and July feed wheat on delivered markets rose by between 50p and £1.75/tonne.

    Weaker Sterling for most of week was another reason
    why prices were generally firmer.

    The price development of old-crop wheat on delivered and export markets was also largely under the influence of the LIFFE wheat futures market.

    Trade activity on the July futures contract was described as technical and prices artificially higher.

  • New-crop feed wheat markets were also quiet, despite some increased buying interest. Growers are awaiting of fuller picture of this years crop before entering new positions.
  • Only very limited export interest for UK wheat was reported last week, hence the UK export market has remained quiet, generally following the futures market.
    HGCA
    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 0171-520 3972


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