Milling wheat premiums hit 30/tonne
PREMIUMS for high quality milling wheat in parts of the country have reached £30/ tonne over the feed wheat price.
But actual trade in milling wheat remains flattened by the strength of Sterling and increasingly competitive imports.
Bread-making wheat is currently making £106.50/ tonne in the north-west of England, according to the Home-Grown Cereals Authority this morning. Ex-farm feed wheat in the same area is trading £29.80 lower at £76.70/ tonne.
In the north-east, top-quality milling wheat has a delivered price of £111/ tonne, reports Dennis Fairweather of Timm Grain, Goole. Thats £31 more than delivered feed wheat which is fetching £80/ tonne.
“Trade is very quiet, even at these premiums,” said Mr Fairweather. “The strong Pound means German Class II wheat can be shipped into this country and sold for the same price as domestic wheat.”
The Pound was worth DM2.984 against the Deutschmark at lunch-time today. Sterlings strength has dampened the grain trade all month, according to Allied Grain (Scotland) Ltd.
In other areas of the country, milling wheat prices remain at about £101/ tonne for ex-farm supplies. The market is expected to remain quiet until more farmers decide to sell.