Gleadell Agriculture Announces Excellent April-June 2009 Wheat Pool Results

The 2008/9 marketing year has ended with a whimper rather than a bang and, as we go to press, feed wheat is trading in the low 90s ex farm,” commentsDavid Sheppard, managing director of Gleadell Agriculture, announcing the company’s latest pool results. “Across the EU plentiful supplies of old crop wheat, barley and maize have overhung the market and an attractive carry to the 2009/10 marketing season has encouraged farmers to hold onto stocks and consumers to buy only what they need.”
Mr Sheppard continues, UK exports slowed in the last quarter of the marketing season as competing origins fought for whatever business was available, leaving a record carry over of between 2.6 and 2.9mln/t at the end of June.

In the context of the marketing year as a whole, the Gleadell Pool result has protected our pool members from the market lows whilst locking them into some of the highest prices available in the past year. The pool returned an average price of 130.25 and a base price of 127.10.

“This result is especially good when compared with many other companys pool results for the same period and reinforces the benefits of marketing grain with Gleadell,” adds Mr Sheppard.