by Robin Twizell

RMD Agriculture

WHEAT prices have improved slightly on the back of a slightly weaker pound, which has allowed a few larger cargoes to be sold. It is, however, rather depressing to suggest wheat at £60 is good news.

Oilseed prices have fallen as a US report puts their soya crop at 84m tonnes, against previous estimates of 80m. Within Europe, rape crushes are working at full capacity with a good demand for oil. This means that, regardless of soaring fossil oil prices, we cannot crush any more for biodiesel so our surplus will have to be sold on the world market, competing with palm and soya.

Thursday's prices

Grainfarmers, Thorp Arch. - Wheat: Oct £60; Nov £61; Dec; £62. Barley: Oct £62; Nov £62.50; Dec £63. Oilseed rape: Oct £128; Nov £129; Dec £130.

GrainCo, Tyne Dock. - Wheat: Oct £60; Nov £61; Dec £62. Barley: Oct £63; Nov £64; Dec £65. Oilseed rape: Oct £128; Nov £129; Dec £130