Wheat Prices Fall – HGCA
Delivered feed wheat prices fell between 50p-1.50/t, bread wheat fell between 50p-3.00/t and feed barley prices lost 1.00/t last week, cancelling out the previous weeks gains.
Harvest quality was again the focus of attention for much of the trading sector. Most players agree that milling wheat quality so far is much better than last season. However, later cut fields, especially in the west, could be downgraded as a result of rain.
Bread wheat premiums fell in-line with expectations of greater supplies being available this season, whilst feed wheat prices became pressured later on in the
week following the announcement by Brussels that exports would be restricted for the next two weeks.
Some delivered homes have begun accepting ACCS wheat only, although this is not widespread. A discount of between 1-2/t ex-farm for non-ACCS grain is noticeable in regions where grain has to be transported further to consumption.
Feed wheat export prices slipped this week. Traders reported merchants buying earlier feed wheat sales back and selling milling quality in the expectation of
a better quality harvest. Milling premiums currently stand around 2-2.50/t.
Traders report that Poland is demanding a very high specification for wheat imports this season. Whether this is achievable, or they settle for lower quality
wheat, has yet to be seen.
Barley markets are generally quiet as international buying has eased. Premiums for a 50,000 tonne boat have fallen from 5/t over coasters to around 3.50/t in
recent weeks.
1 = 61p, 1 = 1.65088 at time of writing.
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Taken from HGCA weekly MI Bulletin
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