After a relatively steady period cereal prices are bouncing about again! Continued poor summer weather in the UK, dry conditions in the Mid West of America and Russia coupled with low stocks of old crop wheat and barley on farms is firming up feed wheat prices to around £190/tonne. This will take the cream off the profits or worse for livestock feeders, as despite higher than expected yields predicted in France and Germany prices are largely expected to remain high for feed wheat after harvest.
The current predicted price of feed wheat for November in the UK is £165-170/tonne so the news on the horizon is not good! Even if the weather bucks up at home, it would appear that as far as this year’s harvest is concerned, we are still in a global market and feed wheat prices will remain high!