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AHDB weekly market report
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<blockquote data-quote="AHDB Cereals and Oilseeds" data-source="post: 7401673" data-attributes="member: 142623"><p><span style="font-family: 'verdana'"><strong><u>Monday 8 February</u></strong></span></p><p></p><p>[ATTACH=full]939644[/ATTACH]</p><p><strong>UK grain markets</strong></p><p></p><p>Domestic wheat prices backed off last week. Friday-Friday old crop (May-21) futures were down £5.25/t to close at £202.50/t. New crop (Nov-21) however only lost £1.70/t over the same time period, closing on Friday at £165.50/t. At 11am this morning, May-21 was up £0.50/t and Nov-21 was up £0.75/t from Friday’s close.</p><p></p><p>Delivered feed wheat in East Anglia for May 21 movement lost £5.00/t on the week, now quoted at £209.00/t. The loses for East Anglian milling wheat for the same movement period were greater, losing £8.00/t, with prices currently at £228.50/t delivered.</p><p></p><p>On Thursday, the pound traded at £1 = €1.14 against the euro, these are levels not seen since last May. Support has come from the Bank of England saying there was no chance there would be another cut to interest rates in the short term. As well a good vaccination progress giving hope of a strong economic recovery. A stronger pound puts downwards pressure on domestic prices because it means our exports become more expensive and imports are cheaper.</p><p></p><p></p><p>[ATTACH=full]939645[/ATTACH]</p><p></p><p>Read the full AHDB Cereals and Oilseeds weekly market report here - <a href="https://ahdb.org.uk/news/market-report-08-february-2021" target="_blank">https://ahdb.org.uk/news/market-report-08-february-2021</a></p><p></p><p>Subscribe to receive Market Report direct into your e-mail inbox here -</p><p><a href="https://ahdb.org.uk/keeping-in-touch" target="_blank">https://ahdb.org.uk/keeping-in-touch</a></p></blockquote><p></p>
[QUOTE="AHDB Cereals and Oilseeds, post: 7401673, member: 142623"] [FONT=verdana][B][U]Monday 8 February[/U][/B][/FONT] [ATTACH type="full"]939644[/ATTACH] [B]UK grain markets[/B] Domestic wheat prices backed off last week. Friday-Friday old crop (May-21) futures were down £5.25/t to close at £202.50/t. New crop (Nov-21) however only lost £1.70/t over the same time period, closing on Friday at £165.50/t. At 11am this morning, May-21 was up £0.50/t and Nov-21 was up £0.75/t from Friday’s close. Delivered feed wheat in East Anglia for May 21 movement lost £5.00/t on the week, now quoted at £209.00/t. The loses for East Anglian milling wheat for the same movement period were greater, losing £8.00/t, with prices currently at £228.50/t delivered. On Thursday, the pound traded at £1 = €1.14 against the euro, these are levels not seen since last May. Support has come from the Bank of England saying there was no chance there would be another cut to interest rates in the short term. As well a good vaccination progress giving hope of a strong economic recovery. A stronger pound puts downwards pressure on domestic prices because it means our exports become more expensive and imports are cheaper. [ATTACH type="full"]939645[/ATTACH] Read the full AHDB Cereals and Oilseeds weekly market report here - [URL]https://ahdb.org.uk/news/market-report-08-february-2021[/URL] Subscribe to receive Market Report direct into your e-mail inbox here - [URL]https://ahdb.org.uk/keeping-in-touch[/URL] [/QUOTE]
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