This year’s winter barley harvest is now well underway in the south-east of England and reports are still mixed – some are pleasantly surprised whilst others are concerned with quality.
I am personally yet to see a combine here in East Yorkshire, but I have had several conversations this week with growers intending to make a start over the weekend.
For those of you looking to move feed barley straight off the combine, £96/T - £97/T currently looks like a realistic value. As for feed wheat, September collection is valued at £118/T ex-farm.
Further forward, November collection should comfortably make £120/T ex-farm.
The OSR market has suffered a volatile week with both US and French oilseed markets all experiencing daily changes.
Combines have made a start on this year’s French OSR crop with disappointing results – some reports would suggest that many crops are struggling to achieve three tonnes per hectare.
This initially persuaded markets upwards at the beginning of the week and £280/T ex-farm was offered for as available collection off the combine at harvest.
However, the strengthening of the pound towards the end of the week added serious pressure to the market, bringing values back into the £270’s/T.
This month’s WASDE from the USDA were released last week and as hoped by many grain sellers, the report confirmed that there is in fact some truth to the Russian/French rumours that have been circulating the market over the last fortnight. However, the changes made to the production figures were only small and there has been little change to the market since the report’s release.
Both Russian and Ukrainian wheat production forecasts were raised by 1 million tonnes each for the current 2016-2017 trading season on favourable weather conditions – Russian wheat production is now forecast at 65 million tonnes, Ukrainian at 25 million tonnes.
Also, the heavy rainfall seen in France over the last month or so is largely responsible for the 1.5 million tonne reduction in forecast European wheat production since last month’s estimates, which now stands at 156.5 million tonnes for the current trading season.
European exports were therefore reduced by 1.5 million tonnes to 34 million tonnes. Regardless, this is still 1 million tonnes higher than the amount exported last season. Autumn seed sales are finally beginning to gather pace and certain varieties are now sold out / become extremely limited.
Also, for anybody looking at stubble turnips we now have supplies in stock at Northfield Farm – please contact the office for more information on either of the above.