Bits And Bats

Rank Hovis is to increase the price of flour by almost GBP90/tonne effective 6 September blaming a 70% year-on-year rise in raw material costs.

Newcastle-based Greggs warned of pasty price rises in the pipeline as they posted half yearly pre-tax profits of GBP18.6m yesterday.

Ukraine newspaper Kommersant says that the government there is "considering" introducing grain export quotas. Rumours are that today is decision day and that they may set a limit of 5 MMT for the whole of 2010/11 (around 75% down on 2009/10).

Ukraine farming group Kernel forecast domestic wheat production this year at 18 MMT (-13.9%) and barley output at 9.5 MMT (-19.5%).

Dow Jones report that in Australia J P Morgan think that crop conditions in the east are so good that they've raised their winter grains (incl. rapeseed) production estimate for the region from 15.3 MMT to 17.5 MMT.

Egypt are back in the market tendering for wheat again today. Despite recently embracing "all his little children" they are today excluding the Black (Sea) ones, and the little Romanian orphans too. Funny that.