Weather boosts new-crop wheat – HGCA
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ROBUST spot demand, amid slow farm selling, saw old-crop feed wheat prices between 1-1.50 higher, with prices trading in the high 70s to low 80s.
Consumers are looking to March, with February requirements largely complete.
New-crop prices also rose, with bread wheat most affected, rising 3 to 103/t delivered Liverpool, as the focus of attention again turned to the adverse weather potentially hitting quality and yields last week.
- Wheat exports
WHEAT exports to non-EU countries, released last week, put the December figure at 118,000 tonnes, taking cumulative exports to end-December at 219,000 tonnes.
Israel, Tunisia and Bangladesh were the main destinations.
Non-EU barley exports reached 472,000 tonnes, with December trade at 81,000 tonnes.
November exports to EU destinations reached 505,000 tonnes for wheat and 68,000 tonnes for barley taking July to November exports to 1.3m and 0.3m tonnes respectively.
- Millers and maltsters usage
MILLERS wheat usage during December rose slightly to 486,000 tonnes, taking the cumulative total to 2.87m tonnes, 0.2% down on 1999/00.
Maltsters barley usage to December was little changed at 898,000 tonnes, while distillers wheat usage rose 11.5% to 264,000 tonnes. See www.maff.gov.uk
- Base rate down
THE Bank of England cut base rates by 0.25% to 5.75% – Thursday 09 February.
1 = 63.98p, 1 = 1.563 on 12 February
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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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