Openfield results out

An Gof

Member
Location
Cornwall
So Openfield are declaring a profit of £416k for the year ended June 18. Not a bad turn around from last years loss of £3.287m.
But the figure has been "helped" by a fortunate gain of £1.06m from the gain in changes in fair value of investment property.
Take into account the Actuarial loss on the defined pension scheme and a few other items and the comprehensive loss for the year is £471K.
So in a difficult trading climate for grain merchants have they turned the ship around?
 

Brisel

Member
Arable Farmer
Location
Midlands
Still tricky times for any grain merchant IMO when you look at the accounts for Glencore, Cofco etc. That doesn't look like a bad result for Openfield. No doubt this has been a good kick up the backside for them. I shouldn't run them down much as I haven't done any business with them for a couple of years.
 

Grain Buyer

Member
Location
Omnipresent
For the record it's an extra 50p if you want Openfield themselves covered.
The Businesses they trade with are covered.

just so I understand......you sell them some wheat, and then ask for them to take 50p off the price to cover you against them going pop?? Is that right? Obviously I only work in my little bubble....but is this a common thing with merchants? I've never heard of this before.:scratchhead:
 

Grain Buyer

Member
Location
Omnipresent
Also took over Angus cereals in 2018. That might run onto next trading year though.

assuming they bought that as an empty shed, are there any noises about delivering stuff there this harvest? Any malting contracts for that store or local farmers being offered any drying/storage rates yet?
 
just so I understand......you sell them some wheat, and then ask for them to take 50p off the price to cover you against them going pop?? Is that right? Obviously I only work in my little bubble....but is this a common thing with merchants? I've never heard of this before.:scratchhead:


If you sell Openfield grain and you want to cover yourself against Openfield going bust, you can, by taking out insurance on what you have sold them, I don't think any other grain merchant offers that.
 

David.

Member
Mixed Farmer
Location
J11 M40
But you can sell to them as a walk in punter, outside pools.
Would 50p/t be a competitive rate, last time I asked some years ago, was told you can only usually buy insurance against companies about whom you need not worry...
 
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Chae1

Member
Location
Aberdeenshire
assuming they bought that as an empty shed, are there any noises about delivering stuff there this harvest? Any malting contracts for that store or local farmers being offered any drying/storage rates yet?
Not that I'm aware of.

@KennyO is local so might have a better idea.

Cefetra are buying malting barley up here this year and have a store.
 

KennyO

Member
Mixed Farmer
Location
Angus
Not that I'm aware of.

@KennyO is local so might have a better idea.

Cefetra are buying malting barley up here this year and have a store.
No signs of any activity. Store is empty as far as I know.
Heard nothing of openfield trying to do business up here.

Have you signed up this years Barley @Chae1 ?
 

Chae1

Member
Location
Aberdeenshire
No signs of any activity. Store is empty as far as I know.
Heard nothing of openfield trying to do business up here.

Have you signed up this years Barley @Chae1 ?

Done ten loads so far. Can't really get excited about anymore at current prices. Sitting on a fair tonnage of high N barley from 2018 harvest, that was grown for low n market. Expected feed price to rise, not drop.
 

Honest john

Member
Location
Fenland
just so I understand......you sell them some wheat, and then ask for them to take 50p off the price to cover you against them going pop?? Is that right? Obviously I only work in my little bubble....but is this a common thing with merchants? I've never heard of this before.:scratchhead:

In a nut shell yes.
 

SFI - What % were you taking out of production?

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Red Tractor drops launch of green farming scheme amid anger from farmers

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As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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