Introducing the Digital Grain Passport: Grain market daily

Market commentary

• UK feed wheat futures (May-23) closed at £280.05/t yesterday, down £9.20/t from Tuesday’s close. The Nov-23 contract closed at £261.50/t, down £8.55/t over the same period.
• Our domestic market followed the losses in Paris and Chicago wheat markets. This came as Russia announced yesterday that it would resume its participation in the grain export deal out of the Black Sea, read more here. This meant that all gains on Monday were lost over yesterday’s trade.
• It has been reported that with the help of the UN and Turkey, Russia has obtained sufficient written guarantees from Ukraine, that it would not use the secure shipping corridor or its designated Ukrainian ports for strikes against Russia. This guarantee is what has led to this U-turn.
• Paris rapeseed futures (May-23) closed yesterday at €657.50/t, down €8.00/t on Tuesday’s close.
• Today there will be a review of the current benchmark interest rate in the UK, which currently stands at 2.25%. It is expected that interest rates will be increased. The Monetary Policy Summary and minutes of the Monetary Policy Committee meeting will be published at 12:00 today.

Introducing the Digital Grain Passport

Over the past two years, AHDB have been working with industry trade associations, including the NFU, AIC and UK Flour Millers, to explore the development of a digital grain passport. The Digital Grain Passport (DGP) would replace the existing paper passport and provide a two-way data flow for all combinable crop supply chains across the UK. Another benefit of the DGP, is that it would provide a universal system for returning weight and quality information back to growers immediately, which would be an industry first.

In October, AHDB hosted a series of webinars to introduce the DGP to stakeholders from across the arable supply chain. The webinars gave participants the opportunity to learn about how the DGP will work, along with a demonstration of the proposed system. Attendees also had the opportunity to ask any questions or give feedback on the prototype. The webinars were open to everyone who are involved in grain supply chains and across the four sessions that were run, approximately 550 people participated.

The webinars generated some really positive feedback, along with some interesting questions and take-home points. On the back of this, we have published a blog which includes answers to the most common questions that came up across the sessions, which can be viewed here.

If you missed the webinars in October or would like to see the prototype again, you can view a demonstration of the DGP by clicking here. 

Your feedback on the DGP matters. As such, please contact your relevant trade association with your feedback on the proposal. Alternatively, if you are not a member of a trade association listed here, please contact Derek Carless (Derek.Carless@ahdb.org.uk) with your views.

More information on the Digital Grain Passport and how it would work can be found here.

You can subscribe to receive Grain Market Daily straight to your inbox. Simply fill in your contact details on our online form and select the information you wish to receive.

While AHDB seeks to ensure that the information contained on this webpage is accurate at the time of publication, no warranty is given in respect of the information and data provided. You are responsible for how you use the information. To the maximum extent permitted by law, AHDB accepts no liability for loss, damage or injury howsoever caused or suffered (including that caused by negligence) directly or indirectly in relation to the information or data provided in this publication.

All intellectual property rights in the information and data on this webpage belong to or are licensed by AHDB. You are authorised to use such information for your internal business purposes only and you must not provide this information to any other third parties, including further publication of the information, or for commercial gain in any way whatsoever without the prior written permission of AHDB for each third party disclosure, publication or commercial arrangement. For more information, please see our Terms of Use and Privacy Notice or contact the Director of Corporate Affairs at info@ahdb.org.uk  © Agriculture and Horticulture Development Board. All rights reserved.