by Robin Twizell

RMD Agriculture

WHEAT prices have been going up £1 a day following lower yield estimates, but good quality, across Europe and good demand from importing countries. On Tuesday the markets took a rest and fell back a little as its fine to have all the theory, but what we need are the orders. We can currently export without any subsidy so any significant fall in prices will have to be politically led - that is, by the EU restricting exports to keep internal prices acceptable for end users.

Oilseed prices have fallen back as traders in the US take profits and rumours circulate about China cancelling cargoes. Palm oil markets are also a little lower and prospects are improving for a good Canadian oilseed harvest.

Thursday's prices

Kenneth Wilson, Thorpe Arch. - Wheat: Aug £79; Sept £80; Oct £82. Barley: Aug £65; Sept £67; Oct £69. Oilseed rape: Aug £152; Sept £155; Oct £157.

GrainCo, Tyne Dock. - Wheat: July £78(old crop); Aug £79; Sept £81. Barley: July £65; Aug £65; Sept £67. Oilseed rape: July £152; Aug £152; Sept £155.