by Robin Twizell

RMD Agriculture

WHEAT prices have fallen back as the dollar weakened following US interest rate reductions. American markets have also fallen back a little with no bullish news over the last few weeks.

The main story has been the rise in oilseed prices on both old and new crop. The markets seem to be taking a rest now as production estimates have been increased for Brazil and Argentina. This market is going to remain very volatile as supply and demand are finely balanced but there seems to be no signs of any significant weakness on the horizon.

Thursday's prices

Kenneth Wilson, Thorpe Arch. - Wheat: Nov £55; Dec £56; Jan £57. Barley: Nov £58; Dec £59; Jan £60. Oilseed rape: Nov £166; Dec £167; Jan £168.

GrainCo, Tyne Dock. - Wheat: Nov £57; Dec £58; Jan £58.50. Barley: Nov £59; Dec £60; Jan £61. Oilseed rape: Nov £167; Dec £168; Jan £169