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<blockquote data-quote="AHDB Cereals and Oilseeds" data-source="post: 8208924" data-attributes="member: 142623"><p>Monday 27 June 2022</p><p></p><p><strong><u>UK grain markets</u></strong></p><p></p><p><em>[ATTACH=full]1045585[/ATTACH]</em></p><h3><em><u>UK focus</u></em></h3><p><em>In the domestic market, UK feed wheat futures fell sharply last week, reflecting the bearish trend in the wider global market. The Nov-22 UK futures contract closed at £274.25/t on Friday, down by £33.75/t on last Friday’s close. Similarly, the May-23 contract closed at £280.75/t on Friday, down by £34.00/t.</em></p><p><em></em></p><p><em>Physical prices moved in line with the futures contract, with East Anglian feed wheat being quoted at £281.50/t for Nov-22, down by £29.00/t on last week. Yorkshire feed wheat fell by £30.00/t across the week, being quoted at £290.50/t for Nov-22.</em></p><p><em></em></p><p><em>In the latest crop condition report to 21 June, 82% of UK winter wheat remained rated as “good-to-excellent” condition. This is unchanged on last month’s estimates. Though, growers have some concerns about crop yield prospects, following persistent hot and dry weather conditions across June. Winter barley conditions marginally deteriorated on the month, with some movement to “fair”. <a href="https://ahdb.org.uk/cereals-oilseeds/crop-development-report" target="_blank">Read more on this in our latest crop development report here</a>.</em></p><p><em></em></p><p><em></em></p><p><em>[ATTACH=full]1045588[/ATTACH]</em></p><p><em></em></p><h3><em><u>Rapeseed focus</u></em></h3><p><em>Paris rapeseed futures (Nov-22) continued to soften last week, and closed at €691.75/t on Friday, down by €66.75/t across the week. Based on last Friday’s close €100.00/t has been shaved off the Nov-22 contract since 1 June.</em></p><p><em></em></p><p><em>In the UK domestic prices followed the same on-week trend as the Paris contracts, with delivered prices into Erith (Hvst-22) quoted at £566.00/t. This is down by £90.50/t on the previous week. </em></p><p><em>Further supporting this pressure was the upward revisions to EU rapeseed output estimates, with Stratégie Grains projecting 18.3Mt of production for the 2022/23 marketing year, up from 18.2Mt projected last month. This follows improved yield prospects in Baltic states as well as larger area projections for French and Swedish crop.</em></p><p><em></em></p><p><em>Read the full AHDB Cereals and Oilseeds weekly market report here - <a href="https://ahdb.org.uk/news/arable-market-report-27-june-2022" target="_blank">https://ahdb.org.uk/news/arable-market-report-27-june-2022</a></em></p><p><em></em></p><p><em>Subscribe to receive Market Report direct into your e-mail inbox here -</em></p><p><em><a href="https://ahdb.org.uk/keeping-in-touch" target="_blank">https://ahdb.org.uk/keeping-in-touch</a></em></p></blockquote><p></p>
[QUOTE="AHDB Cereals and Oilseeds, post: 8208924, member: 142623"] Monday 27 June 2022 [B][U]UK grain markets[/U][/B] [I][ATTACH type="full"]1045585[/ATTACH][/I] [HEADING=2][I][U]UK focus[/U][/I][/HEADING] [I]In the domestic market, UK feed wheat futures fell sharply last week, reflecting the bearish trend in the wider global market. The Nov-22 UK futures contract closed at £274.25/t on Friday, down by £33.75/t on last Friday’s close. Similarly, the May-23 contract closed at £280.75/t on Friday, down by £34.00/t. Physical prices moved in line with the futures contract, with East Anglian feed wheat being quoted at £281.50/t for Nov-22, down by £29.00/t on last week. Yorkshire feed wheat fell by £30.00/t across the week, being quoted at £290.50/t for Nov-22. In the latest crop condition report to 21 June, 82% of UK winter wheat remained rated as “good-to-excellent” condition. This is unchanged on last month’s estimates. Though, growers have some concerns about crop yield prospects, following persistent hot and dry weather conditions across June. Winter barley conditions marginally deteriorated on the month, with some movement to “fair”. [URL='https://ahdb.org.uk/cereals-oilseeds/crop-development-report']Read more on this in our latest crop development report here[/URL]. [ATTACH type="full"]1045588[/ATTACH] [/I] [HEADING=2][I][U]Rapeseed focus[/U][/I][/HEADING] [I]Paris rapeseed futures (Nov-22) continued to soften last week, and closed at €691.75/t on Friday, down by €66.75/t across the week. Based on last Friday’s close €100.00/t has been shaved off the Nov-22 contract since 1 June. In the UK domestic prices followed the same on-week trend as the Paris contracts, with delivered prices into Erith (Hvst-22) quoted at £566.00/t. This is down by £90.50/t on the previous week. Further supporting this pressure was the upward revisions to EU rapeseed output estimates, with Stratégie Grains projecting 18.3Mt of production for the 2022/23 marketing year, up from 18.2Mt projected last month. This follows improved yield prospects in Baltic states as well as larger area projections for French and Swedish crop. Read the full AHDB Cereals and Oilseeds weekly market report here - [URL]https://ahdb.org.uk/news/arable-market-report-27-june-2022[/URL] Subscribe to receive Market Report direct into your e-mail inbox here - [URL]https://ahdb.org.uk/keeping-in-touch[/URL][/I] [/QUOTE]
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