At the beginning of this season of the British wheat was fairly competitive product, but now the price of wheat became one of the highest in the world. This writes the Bureau for the development of agriculture and horticulture in the UK (AHDB).

The price went up due to active exports since the beginning of the season, and also due to tight balance in the market of wheat in the UK.

At the beginning of the current season the price of feed wheat in the Eastern ports of the UK was about 120 pounds per ton on FOB basis. This price was given to the possibility of British wheat to compete in the market of North African countries. But on 24 January 2017, the cost of a ton of wheat increased up to 152,5 pounds on FOB basis.

The value of the futures contract for wheat from the UK differed from prices of futures for the American wheat exchange CBOT almost 30 pounds per ton. Now, this difference dropped to 23 pounds per ton of wheat.