Here in the UK, there has been a significant gap between ex farm feed wheat and barley prices. In fact, the spread is at its largest since 2014.
Between July and August 18 of this year, the UK average ex feed wheat prices lifted by approximately £10/t. When looking at feed barley, ex farm values have only lifted £3/t over the same period.
With this wider price spread, there may be implications for animal feed demand along with a greater demand for UK feed barley in the future.
In recent years, the UK has imported a significant amount of its grain. Major contributing factors include the weather; growing conditions along with the type of wheat being grown here in the UK in relation to its marketability and demand from the end user.
In order to smarten supply with demand, there needs to be better education into the varieties and their end use. At Cope Seeds and Grain we have over 30 years of experience in agricultural seeds and are here to offer our expert knowledge of cereal varieties and grain markets.
Cope Seeds and Grain are learning more and more on a daily basis on the quality and characteristics of this harvest, through our seed contract growers nationally and the grain bought through our grain trading business.
To date, we have found that the wheat quality of this harvest is optimistic with more milling varieties like RGT Illustrious, now in the equation.
With this brings opportunity for greater quantities of the UK wheat crop being homed to milling outlets as well as for export. With the weaker sterling and poor quality on the continent, there may be fewer requirements to import milling wheat and more potential to export.
Cope Seeds and Grain offer a grain sampling service. Please contact us if you would like to utilise this in order to get the best market options for all of your cereal crops.