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<blockquote data-quote="AHDB Cereals and Oilseeds" data-source="post: 8287697" data-attributes="member: 142623"><p>Monday 15 August 2022</p><p></p><p>[ATTACH=full]1056746[/ATTACH]</p><p></p><p><strong><u>UK grain markets</u></strong></p><p></p><p>Following trends in the wider global wheat market, UK feed wheat futures (Nov-22) closed at £271.35/t on Friday, up £4.35/t from the previous Friday. The Nov-23 contract gained £3.90/t on the week, to settle at £245.60 on Friday.</p><p></p><p>East Anglia delivered feed wheat prices (for September delivery) were quoted at £267.50/t on Thursday, up £6.50/t from the previous week. As well as mirroring UK feed wheat futures movements, some of the price increase is likely due to haulage issues. With harvest progressing at a rapid pace and some farmers believed to still have old crop in store, there are currently anecdotal reports of shortages of haulage in some areas to move the volume of grain required.</p><p></p><p>Bread wheat delivered into the North West for September was quoted at £331.50/t on Thursday, up £5.00/t on the week. September delivery to Northamptonshire was up £6.00/t on the week, quoted at £312.50/t, again following wider feed wheat market movement</p><p></p><p>GB harvest 2022 was 63% complete as at 9 August, according to <a href="https://ahdb.org.uk/cereals-oilseeds/gb-harvest-progress" target="_blank">the latest AHDB harvest report</a>. The current pace far exceeds the five-year average at this point in the season of 40% complete by week 5. It is estimated that 65% of the total GB winter wheat area has been harvested and the winter barley harvest was complete by 9 August. <a href="https://ahdb.org.uk/cereals-oilseeds/gb-harvest-progress" target="_blank">Click here to read the full report</a>.</p><p></p><p>The <a href="https://ahdb.org.uk/cereals-market-outlook" target="_blank">latest cereals Agri Market Outlook</a>, released on Friday by AHDB, projected an increase in wheat production for 2022/23, driven by a slightly larger planted area. While the hot, dry conditions are expected to have some impact on yields, this is regional, with crops on heavier land yielding better than crops on lighter land, due to moisture retention. For barley, output is expected to be slightly lower on the year, driven by a smaller planted area, and slightly lower spring barley yields. In terms of demand, animal feed production is expected to be down on the year, mainly due to tighter margins for poultry and pig producers. Milling and malting demand is expected to remain relatively stable this season but consumer demand is a watch point with ‘the cost of living crisis’, as discussed in a <a href="https://ahdb.org.uk/news/analyst-insight-what-does-the-cost-of-living-crisis-mean-for-malting-barley-usage" target="_blank">recent analyst insight</a>.</p><p></p><p>[ATTACH=full]1056747[/ATTACH]</p><p></p><p><strong><u>Rapeseed focus</u></strong></p><p></p><p>Paris rapeseed futures (Nov-22) increased by €3.00/t on the week, closing at €656.25/t on Friday. The Nov-23 contract closed at €642.75/t, gaining €4.25/t from Friday to Friday partly due to dry weather delaying new crop planting as well as following trends across the wider oilseed complex.</p><p></p><p>Friday’s <a href="https://ahdb.org.uk/cereals-oilseeds/gb-harvest-progress" target="_blank">harvest report</a> indicated oilseed rape harvest is 95% complete as at 9 August, ahead of the five year average of 85% completion by week 5, with just the North East, East Midlands, Wales and Scotland with area still to harvest.</p><p></p><p><a href="https://ahdb.org.uk/oilseeds-market-outlook" target="_blank">Follow this link</a> to see the latest <a href="https://ahdb.org.uk/oilseeds-market-outlook" target="_blank">oilseed Agri Market Outlook</a>, released on Friday. Production of rapeseed is estimated to increase by 981Kt compared to 2021, to total 1.1Mt. The production increase is explained by the estimated increase in oilseed rape area of 336Kha. Imports are expected to be slightly reduced due to this and that is expected to balance domestic consumption due to relatively stable demand. Since Hull’s Cargill crushing plant may only close in December and the demand loss could be absorbed into other crushing plants not currently working at 100% capacity, crushing demand may not be impacted substantially. On the other hand, estimates forecast the sow herd to decline and the dairy herd to shrink due to inflation and recessional fears, which could lead to reduced demand for rape meal in livestock feed.</p><p></p><p>Last Friday we were unable to publish delivered oilseed prices due to insufficient quotes to calculate the published average.</p><p></p><p>Read the full AHDB Cereals and Oilseeds weekly market report here - <a href="https://ahdb.org.uk/news/market-report-15-august-2022" target="_blank">https://ahdb.org.uk/news/market-report-15-august-2022</a></p><p></p><p>Subscribe to receive Market Report direct into your e-mail inbox here -<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: 8287697, member: 142623"] Monday 15 August 2022 [ATTACH type="full"]1056746[/ATTACH] [B][U]UK grain markets[/U][/B] Following trends in the wider global wheat market, UK feed wheat futures (Nov-22) closed at £271.35/t on Friday, up £4.35/t from the previous Friday. The Nov-23 contract gained £3.90/t on the week, to settle at £245.60 on Friday. East Anglia delivered feed wheat prices (for September delivery) were quoted at £267.50/t on Thursday, up £6.50/t from the previous week. As well as mirroring UK feed wheat futures movements, some of the price increase is likely due to haulage issues. With harvest progressing at a rapid pace and some farmers believed to still have old crop in store, there are currently anecdotal reports of shortages of haulage in some areas to move the volume of grain required. Bread wheat delivered into the North West for September was quoted at £331.50/t on Thursday, up £5.00/t on the week. September delivery to Northamptonshire was up £6.00/t on the week, quoted at £312.50/t, again following wider feed wheat market movement GB harvest 2022 was 63% complete as at 9 August, according to [URL='https://ahdb.org.uk/cereals-oilseeds/gb-harvest-progress']the latest AHDB harvest report[/URL]. The current pace far exceeds the five-year average at this point in the season of 40% complete by week 5. It is estimated that 65% of the total GB winter wheat area has been harvested and the winter barley harvest was complete by 9 August. [URL='https://ahdb.org.uk/cereals-oilseeds/gb-harvest-progress']Click here to read the full report[/URL]. The [URL='https://ahdb.org.uk/cereals-market-outlook']latest cereals Agri Market Outlook[/URL], released on Friday by AHDB, projected an increase in wheat production for 2022/23, driven by a slightly larger planted area. While the hot, dry conditions are expected to have some impact on yields, this is regional, with crops on heavier land yielding better than crops on lighter land, due to moisture retention. For barley, output is expected to be slightly lower on the year, driven by a smaller planted area, and slightly lower spring barley yields. In terms of demand, animal feed production is expected to be down on the year, mainly due to tighter margins for poultry and pig producers. Milling and malting demand is expected to remain relatively stable this season but consumer demand is a watch point with ‘the cost of living crisis’, as discussed in a [URL='https://ahdb.org.uk/news/analyst-insight-what-does-the-cost-of-living-crisis-mean-for-malting-barley-usage']recent analyst insight[/URL]. [ATTACH type="full" width="677px"]1056747[/ATTACH] [B][U]Rapeseed focus[/U][/B] Paris rapeseed futures (Nov-22) increased by €3.00/t on the week, closing at €656.25/t on Friday. The Nov-23 contract closed at €642.75/t, gaining €4.25/t from Friday to Friday partly due to dry weather delaying new crop planting as well as following trends across the wider oilseed complex. Friday’s [URL='https://ahdb.org.uk/cereals-oilseeds/gb-harvest-progress']harvest report[/URL] indicated oilseed rape harvest is 95% complete as at 9 August, ahead of the five year average of 85% completion by week 5, with just the North East, East Midlands, Wales and Scotland with area still to harvest. [URL='https://ahdb.org.uk/oilseeds-market-outlook']Follow this link[/URL] to see the latest [URL='https://ahdb.org.uk/oilseeds-market-outlook']oilseed Agri Market Outlook[/URL], released on Friday. Production of rapeseed is estimated to increase by 981Kt compared to 2021, to total 1.1Mt. The production increase is explained by the estimated increase in oilseed rape area of 336Kha. Imports are expected to be slightly reduced due to this and that is expected to balance domestic consumption due to relatively stable demand. Since Hull’s Cargill crushing plant may only close in December and the demand loss could be absorbed into other crushing plants not currently working at 100% capacity, crushing demand may not be impacted substantially. On the other hand, estimates forecast the sow herd to decline and the dairy herd to shrink due to inflation and recessional fears, which could lead to reduced demand for rape meal in livestock feed. Last Friday we were unable to publish delivered oilseed prices due to insufficient quotes to calculate the published average. Read the full AHDB Cereals and Oilseeds weekly market report here - [URL]https://ahdb.org.uk/news/market-report-15-august-2022[/URL] Subscribe to receive Market Report direct into your e-mail inbox here -[URL='https://ahdb.org.uk/keeping-in-touch'] https://ahdb.org.uk/keeping-in-touch[/URL] [/QUOTE]
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