Wheatpool results shine in market

David Sheppard, Gleadell Agriculture’s managing director, today announced the company’s Wheat Pool results for April to June 2010: "We have achieved a good net result for farmer members – especially in the context of this year’s bearish market.

"We sold our pool at a relatively early stage and top-off sales were made into market blips as and when they materialised. The net result was a feed wheat base price of £108.56, an average price £110.28, with the highest price £112.81. The milling wheat range was between £112.56 and £128.56.

"The EU grain market stayed in a bearish pattern as heavy crops, competitive export markets and large stock levels all combined to depress prices for most of the season. Added to this we have seen Sterling appreciate considerably vs. the Euro from the lows seen in 2009. On its own, this has reduced UK prices by £5-10 per tonne at any particular time."

"As we go to press we are in the middle of a weather inspired, fund-led market rally which has enabled us to lock into some better prices for the 2010 pool. We are yet to see whether this firmer price trend continues," added Mr Sheppard.