UK wheat weaker – HGCA

  • UK delivered wheat prices were generally weaker in lower traded volumes compared to week ago levels.

    Drier weather saw farmers pick up winter cereal plantings, helping bring forward wheat prices lower. New-crop feed wheat lost between 50p-1.50/t.

    Little farm selling, amid limited consumer demand, held old crop prices relatively firm.

    LIFFE old-crop wheat futures ended 65p-1.05/t lower in a quiet market, helping to restore the UKs competitiveness following the price rally of recent weeks.

  • Production figures released

    MAFF on Thursday released final UK production figures, which revised down 2000 wheat production by 120,000 tonnes to 16.7 million tonnes from its provisional forecast.

    Total barley production was put 190,000 tonnes lower to 6.49m (down 1.4% on 1999). The new production estimates will be incorporated into the next annual supply and demand estimates, to be released late-February.

  • Euro1 = 63.90p, 1 = Euro1.565 on 22 January

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

    Click here to visit the Home-Grown Cereals Authority

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