U.K. wheat output to beat projections, reach between 14.6 million and 14.8 million tonnes as July rain boosted crops, trader says

Andrew Rogers

Andrew Rogers

Aug 19, 2011 – Industry Intelligence

LOS ANGELES , August 19, 2011 () – This year, wheat output in the United Kingdom is expected to beat projections after crop prospects were boosted by July rain, Gleadell Agriculture Ltd. trading manager Jonathan Lane said, Bloomberg reported Aug. 19.

The harvest could fall between 14.6 million and 14.8 million tonnes, exceeding the nearly 13 million tonnes growers and brokers expected in the spring, Land said, adding that prior to recent rains, the quality of collected grain beat expectations.

The Collection of wheat in the U.K. is slowing from rainfall, which could be affecting grain quality, said Lane. While wheat in the northern part of the U.K. appears to be holding up well to the wet weather, the quality of the remaining planted wheat needs to be evaluated, Lane said.

On the NYSE Liffe in London, wheat for November delivery rose 0.7% to £163.55 (US$270.63) a tonne Aug. 19. On the Chicago Board of Trade, wheat for December delivery gained 3% to $7.615 a bushel.

Founded in 1880, Gleadell is a joint venture between Hamburg, Germany-based grain trader Alfred C. Toepfer International GmbH and Paris-based InVivo.

The primary source of this article is Bloomberg, New York, New York, on Aug. 19, 2011.

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