January 9, 2009

UK grain prices have started the New Year on a positive note, boosted by the weaker euro and stronger EU-US trade.

Feed wheat prices are about GBP15/tonne than pre-Christmas values, at GBP102/tonne ex-farm for January movement.

New crop values have also improved by about GBP10/tonne to GBP117/tonne for November amid concerns of the impact of recent cold weather on EU crops.

Feed barley has also increased GBP10/tonne to about GBP91/tonne.

The euro has weakened by about 6 percent against the US dollar in the past three weeks, sending French wheat and oilseed rape futures much higher. British markets followed suit, with rapeseed rising by GBP20/tonne over the Christmas break to about GBP252/tonne ex-farm.

US$1 = GBP0.6585 (Jan 9)