by Robin Twizell
RMD Agriculture
OLD crop cereal prices have fallen again, with most end users maintaining they have adequate cover.
Some compounders have carried grain from April to May, which is indicative of slower sales than previously predicted.
Feed barley prices have fallen to what is the export price and is now below intervention levels. This is because intervention standards are higher than either the export or domestic market.
New crop cereal prices have fallen a little as some beneficial weather is forecast for North America and there have been upward revisions of world cereal production for the forthcoming harvest.
Oilseed prices have also fallen as American soya markets have fallen, owing to larger oil stocks than once estimated. Changes in Argentinian export taxes have also reversed the recent upward pressure on North American soya values.
Thursday's prices
Kenneth Wilson, Thorpe Arch. - Wheat: May £67; June £68; July £69. Barley: May £58; June £59; July £59. Oilseed rape: May £132; June £133; July £128.
GrainCo, Tyne Dock. - Wheat: May £68; June £69; July £70. Barley: May £58; June £58; July no price available. Oilseed rape: May £132; June £133; July no price available.
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