by Robin Twizell

RMD Agriculture

AT THE end of last week there was only one way for both grain and rape prices - a slow downward slide, mainly because of the weakness of the dollar.

Then, on Monday, the US Department of Agriculture issued its latest crop reports which were very bullish for soya and bullish for both wheat and maize, so markets turned round and went back up.

I think I will go back on holiday.

There is still a problem in that we still have a surplus to export and so will react to any movements on world markets. We are also more expensive than French wheat at the moment.

New crop values also benefited from the US report, as they put wheat plantings below expectations, so it went back up to £85 for November after a brief period at £83.

The significant uplift in US soya values has helped support our rape price but EU rape markets and US soya markets seem to be two different things at the moment, so the rape rise was very little compared to US soya improvements. The movements in soya is to try to ration US soya supplies but, at the moment, there seems to be enough rapeseed around.

Thursday's prices

Dalgety Arable, Thorp Arch. - Wheat: Jan £106; Feb £107; Mar £108. Barley: Jan £92; Feb £93; Mar £94. Not trading oilseed rape this week.

GrainCo, Tyne Dock. - Wheat: Jan £105; Feb £106; Mar £107. Barley: Jan £94; Feb £95; Mar £96. Oilseed rape: Jan £177; Feb £178; Mar £179.