by Robin Twizell
RMD Agriculture
WHEAT prices have had a slow but small drift down over the last week. This is mainly due to slightly lower US markets, so that their wheat is now cheaper than ours, and large crops are expected from both Canada and Australia.
Oilseed markets improved after the USDA report last week but have since remained unchanged as, although supply may be tight, it looks sufficient at the moment. The Australian rape crop is also looking good and could compete into Europe in the early new year.
Thursday's prices
Kenneth Wilson, Thorpe Arch. - Wheat: Sep £87; Oct £88; Nov £89. Barley: Sep £76; Oct £78; Nov £79. Oilseed rape: Sep £161; Oct £163; Nov £164.
GrainCo, Tyne Dock. - Wheat: Sep £87; Oct £88; Nov £89. Barley: Sep £75; Oct £76; Nov £77. Oilseed rape: Sep £162; Oct £165; Nov £166
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