In her monthly column, EMMA CROFT of Anderson Grain Marketing Ltd analyses the global grain market.

FEED wheat values for spot collection have slightly improved over the last fortnight with current values trading comfortably above the £160/T ex-farm position.

As for movement further forward, buyers are currently limited, although late spring collection could probably be negotiated in the region of £165/T ex-farm.

As for feed barley, interest from local feed compounders into the spring months has encouraged values into the mid £130’s/T ex-farm whilst summer collection would make £140/T ex-farm.

There is a nervous feel to the grain trade at the minute with regards to the political unrest over in the Ukraine; will the unrest disrupt their planned record export program? Will it encourage buyers of Ukrainian wheat to look elsewhere, adding pressure to alternative supplies?

More than 3M/T of sold Ukrainian wheat is yet to be shipped which could prove difficult for the foreseeable given that all merchants and shippers are currently absent from the trade. Their local currency is also weakening against the US dollar which could confuse their export program if the delays continue.

Elsewhere, a cold spell across the American Midwest is giving growers little confidence in winter plants as spring approaches.

Crops have so far benefited from one of the mildest winters for decades and although this currently stands in the growers favour, a sudden shift in temperature could prove detrimental. I would imagine that a favourable spring will also be useful at this stage.

As for new crop values, feed wheat for November collection is currently offered in the region of £150/T ex-farm.

For those of you looking for earlier movement, as available collection is being negotiated somewhere between £144- 146/T ex-farm.

Buyers are however limited as the trade keeps one eye on the weather and one on the Ukraine; neither of which look as though they will being any long-term price stability.

Elsewhere, OSR values are also improved this month with old crop currently valued at £310/T+ ex farm for spot collection.

Logistical problems over in Canada have continued to delay their export program, adding further pressure to South American supplies which have logistical issues of their own to deal with.

New crop OSR should make £290/T ex-farm for September collection.