By FWi staff
CEREAL prices have fallen so badly that wheat is now worth less than barley.
Ex-farm feed wheat in East Anglia is trading at £68.00/ tonne, well below the ex-farm barley price of £68.30. According to the Home-Grown Cereals Authority, feed wheat is also selling for less than barley in the Midlands and North-east of England.
On the futures market, old-crop wheat for May is selling for just £72.00/ tonne. But barley contracts are worth £72.75/ tonne.
Traders continue to forecast a slide in wheat prices as the end of the season approaches. Much of the feed wheat on the open market falls below intervention standards and growers will have to take the best price they can.