Old Crop London Wheat GBP8.00 Lower

Posted by Nogger - a legend in his own mind at 12:04 | Categorized as

14/03/11 -- May London wheat is GBP8.00/tonne lower in late morning trade at GBP176.50/tonne. Exactly a month ago today it was GBP213.00/tonne, so we've fallen a whopping GBP36.50, or 17%, in just twenty eight days.

That's a pretty spectacular fall from grace by any standards, with the contract now at it's lowest levels since late November. The funny thing is that even more than thirty six quid off the highs it's STILL way too expensive a raw material for the feed sector.

That leaves us with just one buyer in the whole of the country, and they're about to have a shutdown as I recall. So hurry up Vivergo, can't you lads work any faster than that?