February 15, 2016
UK wheat achieves highest export in 10 months
Wheat from the UK are currently gaining the competitive edge, with grain prices declining and the pound currency weakening, Bloomberg reported.
In December last year, wheat shipments reached its highest in 10 months, with a volume of more than 250,000 tonnes, based on customs data by the Agriculture & Horticulture Development Board.
"Competitiveness may have continued into January," said Helen Plant, a senior analyst at the AHDB in Kenilworth, England.
Following a very plentiful harvest for the previous two seasons which brought about a surplus 24% bigger than 2015, feed-wheat futures traded in London slid to their lowest since 2010.
However, December's exports increased 12% from 2014, with deliveries mainly made to Spain, Algeria, the Netherlands and Tunisia, according to customs data.
For futures in May, feed-wheat are about US$24.35 cheaper than June's corn futures on Euronext in Paris, the cheapest for such contracts, according to Bloomberg calculations.
- Bloomberg