At the beginning of the current season the price of British wheat was fairly competitive, but now they have become one of the highest in the world. According to the AGN. "Grain Online" with reference to the Bureau for the development of agriculture and horticulture in the UK (AHDB).

The rise occurred because of the fairly tight balance on the British wheat market in the current season, in contrast to the global market and due to strong exports at the beginning of the season.

At the start of the season, the price of feed wheat in the Eastern ports of the UK was about 120 lb/ton on FOB basis. Low prices have allowed UK wheat to compete successfully in non-traditional markets of North African countries. By 24 January wheat rose to 152,5 lb/ton on FOB basis.

In December, the difference in the cost of the nearest futures contract for British wheat and the us wheat at the Chicago Board of trade (CBOT) was almost 30 lb/ton. Now, this difference decreased to 23 lb/ton.

Photo source:agrodovidka.info