Britain's wheat crop is on track to be its highest in at least six years, ensuring the country's return as a net exporter after a two-season hiatus, but selling its surplus could prove challenging given an expected global glut of feed grain, reports Reuters.
Britain predominantly exports feed quality wheat with the bulk of its sales made to customers within the European Union, particularly Spain, the Netherlands and Portugal.
Traders and analysts said this year's wheat crop was likely to be between 16 million and 17 million tonnes and could even come close to the record 17.23 million harvested in 2008, up by more than one-third from last year's 11.92 million.
"We don't seem to be getting the level of export business that we need relative to the size of the crop we've got. I think it is quite a concern," Jack Watts, the Home-Grown Cereals Authority's lead analyst on cereals and oilseeds, said.
Traders said a poor quality French crop this year has increased competition in the feed grain market, which already looked set to be intense with the United States set to harvest a huge corn crop.
"French (feed) wheat is much cheaper than the UK's so the UK can't compete in Spain, Portugal, Ireland or the Netherlands," one trader said.
"It needs to change because Britain needs to export feed wheat."
Britain has been a net importer of wheat for the past two seasons, after heavy rains during the harvest and autumn of 2012 damaged the crop that year, and wrecked plantings of the following season's crop.
Read more HERE.
Britain predominantly exports feed quality wheat with the bulk of its sales made to customers within the European Union, particularly Spain, the Netherlands and Portugal.
Traders and analysts said this year's wheat crop was likely to be between 16 million and 17 million tonnes and could even come close to the record 17.23 million harvested in 2008, up by more than one-third from last year's 11.92 million.
"We don't seem to be getting the level of export business that we need relative to the size of the crop we've got. I think it is quite a concern," Jack Watts, the Home-Grown Cereals Authority's lead analyst on cereals and oilseeds, said.
Traders said a poor quality French crop this year has increased competition in the feed grain market, which already looked set to be intense with the United States set to harvest a huge corn crop.
"French (feed) wheat is much cheaper than the UK's so the UK can't compete in Spain, Portugal, Ireland or the Netherlands," one trader said.
"It needs to change because Britain needs to export feed wheat."
Britain has been a net importer of wheat for the past two seasons, after heavy rains during the harvest and autumn of 2012 damaged the crop that year, and wrecked plantings of the following season's crop.
Read more HERE.
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