by Robin Twizell

RMD Agriculture

WHEAT prices have improved a little but generally speaking the market lacks any direction. We still need to compete with Black Sea exports and Brussels seems to be adopting the view that they will not give any significant export licences if they have to subsidise it. Black Sea feed wheat is trading in the region of £65 delivered so we have to remain competitive against that.

Oilseed markets have entered a period of what used to be called "masterly inactivity". Traders are looking for new news on soya harvest where weather will no longer affect yield. There has been some trade on 2003 harvest at £145 November.

Thursday's prices

Kenneth Wilson, Thorpe Arch. - Wheat: Sept £54; Oct £55.50; Nov £57. Barley: Sept £54; Oct £56; Nov £57. Oilseed rape: Sept £152; Oct £154; Nov £156.

GrainCo, Tyne Dock. - Wheat: Sept £54; Oct £57; Nov £58. Barley: Sept £53; Oct £54; Nov £55. Oilseed rape: Sept £153; Oct £157; Nov £158.