As tillage farmers here at home struggle to plant, the same is true across the water in the UK and as the situation drags on LIFFE wheat price has climbed in the past week, as can be seen in the table below.
Looking ahead, November 2020 wheat was at £152.50/t on Friday afternoon, November 1. This was down slightly from October 28, when it hit £153.50/t – the highest it has been since the end of the harvest.
Also Read: ‘If we don’t have a weather problem grain prices fall’US weather
Unsettled weather is also impacting on prices in the US. Some farmers have been faced with snow as they try to harvest their corn crops.
On Monday, October 28, the United States Department of Agriculture reported that 41% of US corn had been harvested – approximately 20% behind the average.
The bad weather affecting harvest progress in the US gave support to prices this week. On Wednesday, October 30, Chicago Board of Trade (CBOT) corn for December finished at 390.75c/bu, reaching the levels of two weeks previous.
Australian wheat and barley
Moving down under and the Grain Industry Association of Western Australia has said that: “The Western Australian grain season is having one of its hardest finishes in a long time.”
Lack of moisture in the pre-season, dry conditions in the spring time and severe frost all took a toll on crops. Despite the lack of rain in September, the association expects a modest recovery in yield potential in frost affected regions.
The October report from the association also estimated that total wheat and barley tonnage for Western Australia would climb above 10 million tonnes. That figure is 30% behind 2018 when total wheat and barley tonnage hit 15 million tonnes – a figure that was not expected to be reached given the tough growing conditions.
Grain markets
