Latest UK trades/markets

An un-named UK grain broker was quoted on Dow Jones earlier in the week saying that you could almost watch the wheat growing. Now it's got a bit of sun on it's back you can certainly see where he was coming from.

With the southern EU harvest only three or four weeks away from kicking off the chances of a late weather scare are diminishing by the day.

As reported earlier German farmers' association Deutscher Raiffeisenverband (which incidentally is worth 92 in Scrabble) forecast a 15.8% rise in 2008-09 German wheat output at 23.9 million tons.

This is broadly in line with the IGC's estimate of a 15% increase EU-wide.

No surprises then to see the wheatfeed market continue to slip. Nearby availablity problems at Icklingham (due to lack of demand for the head product) have supported the market a little this week with £124 trading most days ex Corby/Wellingborough type locations. Unconfirmed reports also suggest that £123 may also have traded yesterday.

For now buyers ideas for next week are lining up at £120 out of that kind of area.

Further forward straight Sept on its own has traded today at £120 basis Wellingborough/Corby/Dogsthorpe. With Jun/Sep also likely buyable at the price basis south east mills incl Tilbury.

Spot rapemeal ex Liverpool reported traded yesterday £169 and £170, strangely a discount to Erith fixings which traded £172. Beyond that sellers have pushed their ideas up and buyers have walked away.

Spot soya hulls in Liverpool reported done yesterday at £141 and £143.

Maize meal ex Worksop available for last half May £POA.

Full IP hipro soya very limited quantities available around £330.00 spot ex Humber.

Suns 32% Argy small quantity available ex Liv around the £187.00 mark.