Wheat gains despite strengthening Pound

By FWi staff

WHEAT prices this week recovered from recent lows – despite a one-pfennig increase in the value of Sterling, to DM3.046 against the Deutschmark.

Milling wheat gained £5 to end the week at £106/ tonne ex-farm. Domestic supplies are getting tighter and millers are seeking cover for May and June.

Old-crop futures and ex-farm wheat categories ended £1 up on the week. Feed wheat is currently trading at about £69, with futures trading at £74.25 for May delivery.

New-crop futures are trading at £77 for November.

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