Major news this week has been the explosion at Erith, the rape crushing plant in London. This plant takes the majority of rapeseed in the South West. The plant could be down for anything from 3 to 6 months.
The pound is “wobbling” this week, both against the dollar and the euro as the sentiment turns to BREXIT.
The first combines have started to roll in the UK, with oilseed rape being harvested on light ground in the east.
Wheat crop values have eased slightly this week, as rains could bolster yields.
It has been reported that 2.5 million tonnes of maize could be imported into the UK this year, which will dramatically reduce wheat demand.
Maize looks increasingly attractive.
We do have some exceptionally good deals on wheat gluten at present, so please do not hesitate to give us a call.
Market comments are the opinion of the author, and are not capable nor intended
to create any legally binding obligations on either party, and are not intended
to provide professional advice. (E&O.E)