Latest on assurance in the Cereals and Oilseeds sector: Grain market daily

• UK feed wheat futures (Nov-24) closed at £190.90/t yesterday, down £0.40/t from Tuesday’s close. The May-25 contract fell £0.35/t over the same period, to close at £201.55/t.
• Global wheat markets were supported yesterday following bargain buying from several destinations including Algeria and Jordan. However, increased sterling strength following reduced expectations of an interest rate cut in August led to a depreciation of UK feed wheat futures. Meanwhile, Chicago wheat and Paris wheat futures both rose. 
• Paris rapeseed futures (Nov-24) closed at €481.25/t yesterday, up €8.50/t from Tuesday’s close. The May-25 contract rose €6.25/t over the same period, to close at €482.00/t.
• Improved export demand for Canadian rapeseed and Malaysian palm oil supported the vegetable oils complex, buoying Paris rapeseed futures. This was despite a modest fall in Chicago soyabean futures.

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Independent UK Farm Assurance Review – your views are needed

An independent review of assurance schemes has been jointly commissioned by AHDB and the National Farmers' Union, along with NFU Cymru, The Ulster Farmers' Union and NFU Scotland.

The industry-wide review is looking at repurposing farm-to-fork assurance in a post-Brexit world and will examine:

• How farm assurance can deliver value back to scheme members
• How standards are developed to meet the evolving needs of members, the markets they serve, sector diversity and appreciation of the global marketplace
• How assurance members are engaged with (including the development of standards), inspected and how technology is used in assurance now and in future
• How assurance schemes can and should fit with regulation and government schemes to best serve members

The review is being carried out by an Independent Commission, led by Dr David Llewellyn CBE, former Vice Chancellor of Harper Adams University.

To capture a complete picture of UK farm assurance, the Commission has set up a short farmer survey for you to share your views and experiences.

You can complete the survey here.

The survey closes on 31 August 2024, and AHDB encourages all levy payers to take part to help the Commission achieve its aims.

Cereals and Oilseeds evidence gathering

Further to the independent review, AHDB is gathering evidence specifically focused on cereals and oilseeds assurance.

In recent years there have been many conversations around how our domestic farm assurance standards compare to those of imported grain.

We looked at how grain is imported into the UK in December 2021, but there is still a lack of clarity around how assurance works in the cereals supply chain and the differences between farm and trade assurance standards.

We have now commissioned Scottish Agricultural Organisation Society to lead a study of how assurance processes work, why they are required through the supply chain and how these requirements are evidenced. This will include a flow chart showing clearly where and when assurance checks and measures are put in place for domestic and imported grain.

The findings will be released to levy payers postharvest.

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