UK grain prices firmer, says HGCA
- Delivered grain prices firmer
UK wheat prices were 2 to 3 higher over the week. A weaker Pound, limited farm selling and delayed 2001 crop drilling all helped prices higher.
- Wet weather holds up winter planting
Wet weather continues to hamper winter crop sowings, with ADAS estimating just 60% to 70% of intended plantings complete. Unless drier weather follows, the lower winter wheat and winter barley sowings of autumn 1998 could be repeated, particularly in the North of England and Scotland.
- No change in IOB approved malting list
No changes were made to the IOB approved list of malting barley for harvest 2001.
- Agrimoney compensation for harvest 2000
UK farmers will receive agrimoney compensation for this harvest. This will equate to around 7/ha for cereals for England and Scotland (non-LFA) on top of normal 2000 IACS payments. Exact payments have yet to be confirmed by MAFF. Payments will be slightly higher for other
crops. - Area overshoot to cut payments
Englands area overshoot has been put at 1.64% for harvest 2000, compared to 0.94% last year. This will cut cereal payments by over 3.50/ha to 213.70. The over-shoot to Scotlands single base area was also confirmed by SERAD at 2.25% leaving LFA and non-LFA payments at 187.95 and 204.55 respectively.
1 = 59.95p, 1 = 1.668 at time of writing
|
Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority |