UK grain market shrugs off rate rise HGCA

  • Delivered markets last week witnessed a slight increase in activity over the previous week. In general, prices firmed by about 50p/t, although some positions and regions remain unchanged.
  • The market largely shrugged off Thursdays 0.25% interest rate rise and the rejection of free market export refund certificates by the MANCOM.
  • Port activity, rather than any domestic consideration remains the focus of attention with traders.
  • With land work now beginning for many farmers, traders suggested finding suitable ex-farm supplies could be made more difficult in the short-term.
  • UK export prices were little changed from last weeks values. Trade sources reported that price developments were very much in line with currency movements.
  • The volumes traded remained limited, in response to slow farmer selling. However, ports were reportedly active with barley shipments to the Middle East and some wheat to South Korea.

    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 020 7520 3972

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