Market Data. Table of Contents. Tuesday 4 Sep 2018 / Vol 13 Issue 10 MARKET PRICES SUPPLY & DEMAND INFORMATION TRADE INFORMATION

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1 Market Data Tuesday 4 Sep 2018 / Vol 13 Issue 10 The Market Data publication provides a snapshot of the latest key market information. Complete historical data sets are available from the Market Data Centre on the Cereals & Oilseeds website cereals.ahdb.org.uk/data Table of Contents MARKET PRICES Corn Returns (Ex Farm Prices) UK Delivered Prices UK Imported & Exported Prices UK Feed Ingredient Prices EU Delivered Prices International Grain Prices Futures Prices Forex SUPPLY & DEMAND INFORMATION World Supply and Demand UK Supply and Demand Estimates Page 2 Page 3-4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 TRADE INFORMATION EU and UK Intervention Summary EU Intervention Detail EU Import Duties and TRQs EU Export and Import Licences UK Customs Data Page 13 Page 14 Page 15 Page 16 Page This publication and its content is produced by the AHDB Market Intelligence team whose systems are certificated to ISO 9001:2015 While the Agriculture and Horticulture Development Board seeks to ensure that the information contained within this document is accurate at the time of printing, no warranty is given in respect thereof and, to the maximum extent permitted by law, the Agriculture and Horticulture Development Board accepts no liability for loss, damage or injury howsoever caused (including that caused by negligence) or suffered directly or indirectly in relation to information and opinions contained in or omitted from this document. Agriculture and Horticulture Development Board All rights reserved. AHDB Cereals & Oilseeds, Stoneleigh Park, Kenilworth, CV8 2TL, UK T +44 (0) , F +44 (0) cereals.mi@ahdb.org.uk cereals.ahdb.org.uk

2 Weekly Corn Returns Ex-Farm Prices For the week ending: Thursday 30 August 2018 These prices are collected weekly under the 1882 Corn Returns Act (as amended). The prices are weekly averages from Friday to Thursday weighted by the volumes traded, both UK wide and for a variety of regions. They give an indication of ex-farm values but coverage depends on tonnages traded. August Delivery per tonne Wheat Barley Oats Milling Feed & Malting Feed & Milling Feed Bread Other Other Premium Other Other South East South West - - Midlands Eastern North East North West - - England & Wales South Scotland - - Central Scotland - - North Scotland - - Scotland Great Britain Northern Ireland - - United Kingdom Change on last week ( / t) Tonnages Tonnages reported in fixed price and other purchases (open price and delivered) contracts made. tonnes Wheat Barley Oats Total Milling Feed Malting Feed Milling Feed Ex-Farm Fixed Price Bread Other Premium Other August 861 2,243 5,219 1,406 2,149 2, ,075 September 8,646 8,170 18,719 3,247 1,914 9, ,109 October 1,745 2,994 8,917 3,666 1,392 3, ,187 November 2,090 1,478 4, ,044 2, ,115 December and After 5,001 9,431 38,682 3, , ,795 Other Purchases 12,665 2,871 18,456 3,116 6,004 5,040 2, ,846 Total 31,008 27,187 94,992 16,159 13,170 25,965 4, ,128 NOTE: UK "premium malting barley" includes both winter and spring varieties, therefore the averages reported are not representative of either grade. Also, the proportion of winter and spring varieties varies from week to week and between delivery periods. Published prices may include both old and new season trade. Please note that "0" value denotes either where no tonnage has been submitted or through validation has been removed

3 UK Delivered Prices Average UK delivered prices to a range of regions. Prices collected weekly as at Thursday s close. Summary As at: Thursday 30 August 2018 per tonne Location Month/s of Bread Wheat Feed Wheat Feed Barley Oilseed Rape Delivery Price Change Price Change Price Change Price Change E.Ang feed / Lond'n and Essex bread Sep n/c n/c Oct n/c - - Nov n/c Feb n/c - Northamptonshire Sep Oct Nov Feb n/c North-West grains / L'pool OSR Sep n/c Oct Nov Feb Avonmouth feed / South bread Sep Oct Nov Feb n/c - Yorkshire Sep n/c Oct unch - Nov unch Feb n/c - Central Scotland Sep n/c - Oct n/c - 1. Feed Wheat Sep-2018 Oct-2018 Nov-2018 Feb-2019 May-2019 Avonrange Central Scotland East Anglia East Devon Lancashire - - London - - North Humberside Northamptonshire - - Oxfordshire South Humberside Southampton - - Tyne & Wear - - West Midlands East Midlands Full Specification Bread Wheat Sep-2018 Oct-2018 Nov-2018 Feb-2019 May-2019 North-West Northamptonshire South London / Essex Yorkshire Full Specification Biscuit Wheat Sep-2018 Oct-2018 Nov-2018 Feb-2019 May-2019 North-West - - Northamptonshire South - - London / Essex - - Yorkshire - - Scotland - - Legend Grain & Market Centre Quality / Market Outlet Variety Nabim Group Meeting Min Specification of : 1. Feed Wheat any - <15% Moist, 72 Kg/hl, 2% Admix 2. Full Specification Bread Wheat - 1 only >250 Hag, >13% Prot, >76Kg/hl 3. Full Specification Biscuit Wheat - 3 only >180 Hag, >10.7% Prot, >74Kg/hl

4 UK Delivered Barley Prices As at: Thursday 30 August 2018 Grain & Market Centre 6. Feed Barley Sep-2018 Oct-2018 Nov-2018 Feb-2019 May-2019 Aberdeen - - Avonrange - - Central Scotland - - Cheshire/North Wales - - Devon - - East Anglia London - - Midlands - - North Humberside - - Northamptonshire - - Shropshire - - South Humberside - - Southampton - - Tyne & Wear Domestic Brewing Barley Sep-2018 Oct-2018 Nov-2018 Feb-2019 May-2019 South Humberside - - Central Scotland - - East Anglia - - Edinburgh - - Midlands - - North Scotland - - South Yorkshire Distilling Grade Barley Sep-2018 Oct-2018 Nov-2018 Feb-2019 Nov-2018 Borders - - Central Scotland - - NE Scotland - - West Scotland Max 1.85% - Spring Barley Sep-2018 Oct-2018 Nov-2018 Feb-2019 May-2019 Avonrange - - Burton on Trent - - Central Scotland - - East Anglia - - Humber - - London - - South Coast - - Tyneside - - Legend Quality / Market Outlet Variety Nabim Group Meeting Min Specification of : 6. Feed Barley Any - <15% Moist, 63 Kg/hl, 2% Admix 7. Domestic Brewing Grade Barley Pearl - <15% Moisture, <1.75%N2 AND <4% Screen (through 2.25mm) 8. Distilling Grade Barley Optic - <17% Moisture, <1.65%N2 AND >90% Screen (retained 2.5mm) 9. Max 1.85% - Spring Barley Optic - <15% Moisture, <1.85%N2 AND >90% Screen (retained 2.5mm) UK Delivered Oilseed Rape Prices As at: Friday 31 August 2018 Grain & Market Centre 10. Oilseed Rape Sep-2018 Nov East Anglia / London Erith Liverpool Hull / Selby Scottish Ports -

5 Imported Grain Prices These prices show the cost of importing grain into the UK. The prices are to optional UK ports and include freight and freight operators costs. Against UK prices they give an indication of the UK s competitiveness. As at Monday 3 September 2018 Source & Grain Type Price Change Month/s of Basis /tonne on previous Shipment Member States' Grain Any Origin Maize UK Optional Ports (Ciffo) " " " " French Maize " " " " " " French Wheat % " " 250 Hagberg " " " " German Wheat - A (13%) Sep " " " " 250 Hagberg Oct " " " " n/c Nov " " " " - E (14%) Sep " " " " 250 Hagberg Oct " " " " n/c Nov " " " " EU Feed Wheat unch Sep " " " " Oct " " " " EU Feed Barley Sep " " " " Oct " " " " UK Export Prices* The prices are quoted as Free on Board or FOB meaning these are representative prices including the cost of loading the specified size of boat at an East Coast port. As at: Tuesday 4 September 2018 Grain Month(s) of Price 1 Change on Basis Loading /tonne Previous Feed Wheat Milling Wheat Feed Barley *Please note that AHDB are unable to publish UK Export (FOB) prices this week due to insufficient quotes to calculate the published averages. NOTE: 1 Representative values.

6 UK Feed Ingredient Prices In the UK, animal feed demand equates to approximately 45-50% of total wheat usage and 60-65% of barley usage. The price of other ration components can impact the price of and demand for compound feeds, thus impacting the potential cereals feed demand and prices. As at: Friday 31 August Feed Ingredient Price 1 Change on Month of Basis /tonne week ( /t) Delivery Protein Meals & Cakes Soyameal - Home Prod (Hi - Pro) Ex-mill Liverpool FEMAS standard Hi - Pro Soyameal Sep Ex-Store East Coast Oct " " n/c Nov " " Soyameal - Brazilian (48%) Sep Ex-store Liverpool Oct " " n/c Nov " " Rapemeal - 34% Ex-mill Erith Sunflowermeal - EU Ex-store Humber Sunflowermeal - Argentine 32% Ex-store Liverpool Sunflowermeal - Argentine 38/40% Ex-store Liverpool Other Feed Ingredients Maize Gluten Feed Oct Ex-store Liverpool n/c Nov " " Pelleted Wheat Feed Sep Ex-store Midlands and Southern Mills Oct " " Citrus Pulp Ex-store Liverpool Sugar beet pulp - molassed Ex-store Scotland Sugar beet pulp - unmolassed Ex-store Scotland Field Peas Delivered East Coast ASA - after safe arrival; FH - first half; LH - latter half, n/c - no comparison NOTE: ¹Sellers' price: actual trading prices may vary from those quoted above.

7 EU Delivered Prices As at: Thursday 30 August 2018 Both the EU delivered and International prices, give an indication of how competitive UK prices are in a European and International context. If the UK is more competitive than other origins, there is greater potential for UK exports with the opposite true if the UK is less competitive. Country, Grain & Market Month Price Change Country, Grain & Market Month Price Change Centre ( /tonne) d ( /tonne) Centre ( /tonne) d ( /tonne) Milling Wheat Malting Barley France Rouen France Creil a (min 76 kg/hl Irina (spring) 220 Hagberg) (max Planet (spring) La Pallice 12% protein) Etincel (winter) Germany Hamburg Aug n/c Sebastian (spring) Dresden Poland - Aug Germany Stuttgart Feed Wheat Mannheim UK East Anglia Sep Feed Barley Oct UK East Anglia Sep n/c Nov n/c Oct n/c Germany Hamburg Aug Nov n/c Dresden France Rouen Netherlands Rotterdam a Aug Rapeseed France FOB Moselle La Pallice Rouen Germany Hamburg Aug Maize Nantes France Bordeaux/Bayonne Germany Hamburg Aug La Pallice Hannover Dresden Nantes Munchen Netherlands Rotterdam a Aug Germany Dresden Sunflowerseed Munchen France Bordeaux Hamburg Bread Rye Netherlands Rotterdam a Aug Germany Hamburg Poland Aug a) FOB price b) Ex-store price c) Indicates imported grain d) Converted at the following currency rates = Euro/ SKr/ /euro DKr/ HUN/

8 International Grain Prices As at: Friday 31 August 2018 Price Price Change on Month Grain $/tonne /tonne Previous of $/tonne Shipment Premium Milling Wheats Canadian No.1 CWRS 13.5% - Australian Prime Hard 14% - US Dark Northern Spring 13.5% - Good Milling Wheats US Hard Red Winter (HRW) 11.5% - Australian Hard 11.5% - Australian Standard White - Other Wheats US Soft Red Winter (SRW) No.2 - Argentine - French, unsubsidised - UK feed, unsubsidised - Russian, soft milling Sep Russian, soft milling Sep Ukrainian, Soft Milling, Class Sep Russian, feed - Barley French, unsubsidised - UK, unsubsidised - Canadian n/c Sep US - Russian, feed Sep Maize US No.3 Yellow Corn - Argentine Sep Oats US Pacific 2 Oats Sep Finnish White n/c Sep Malting Barley French, Esterel - Danish - Oilseeds US Soyabeans - Argentine Soyabeans - Brazilian Soyabeans - Canadian Canola No.1 - Basis Fob St Lawrence Fob Eastern States Fob Portland Fob US Gulf Fob Eastern States Fob Eastern States Fob US Gulf Fob Fob Rouen Fob East Coast Fob Black Sea (Novorossiysk) Fob Black Sea (Rostov) Fob Black Sea Fob Black Sea Fob Rouen Fob East Coast Fob Thunderbay Fob PNW Fob Black Sea (Novorossiysk) Fob US Gulf Fob Up River Cif Portland Fob Finland Fob Creil Fob Fob US Gulf Fob Up River Fob Paranagua In-store Thunder Bay DAF - Delivered At Frontier Goods are made available, cleared for export, at the named point and place at the frontier, but before the customs border of the adjoining country. Converted at Friday's exchange rate of 1= USD CAD Euro

9 International Futures Prices As at: Friday 31 August 2018 Chicago Wheat LIFFE Wheat MATIF Wheat Soft Red Winter Price Change on Last Price Change on Last Price Change on Last /tonne /tonne /tonne /tonne /tonne $/tonne $/tonne /tonne Nov Sep Sep Jan Dec Dec Mar Mar Mar May May May Jul Sep Jul Nov Dec Sep Jan Mar Dec MATIF Rapeseed MATIF Maize CBOT Soybeans Price Change on Last Price Change on Last Price Change on Last /tonne /tonne /tonne /tonne /tonne /tonne $/tonne $/tonne /tonne Nov Nov Sep Feb Jan Nov May unch unch Mar Jan Aug Jun Mar Nov Aug May Feb Nov Jul May Jan Aug Kansas Wheat Minneapolis Wheat* Hard Red Winter Chicago Maize Dark Northern Spring Price Change on Last Price Change on Last Price Change on Last $/tonne $/tonne /tonne $/tonne $/tonne /tonne $/tonne $/tonne /tonne Sep Sep Dec Dec Mar Mar May May Jul Jul Sep Sep Dec Dec CBOT Soyameal CBOT Soyaoil Malaysian Palm Oil* Price Change on Last Price Change on Last Price Change on Last $/tonne $/tonne /tonne $/tonne $/tonne /tonne $/tonne $/tonne /tonne Sep Sep Oct Oct Dec Dec Jan Jan Mar Mar May May Jul Jul Winnipeg (ICE) Canola NYM Crude Oil Price Change on Last Price Change on Last CAD/tonne CAD/tonne /tonne $/barrel $/barrel /barrel Nov Oct Jan Nov Mar Dec May Jan Jul Feb Nov Mar Jan Apr *Please note that the prices reported in the spreadsheet are not fully consistent due to public holiday. NOTES: Converted at Friday's exchange rates: /US$ /CAD$ /euro

10 ECB Euro Exchange Reference Rates As at: Friday 31 August 2018 Variable daily rate 1 Monday Tuesday Wednesday Thursday Friday 1 Day 5 Day 1 = 27-Aug 28-Aug 29-Aug 30-Aug 31-Aug Change Change Pound Sterling US Dollar New Zealand Dollar NOTE: 1 The variable daily rates are used for calculating euro-denominated payments outside the euro. The reference exchange rates from the European Central Bank (ECB) provide a useful benchmark for monitoring currency movements. They are used throughout this publication. Variable daily rate Monday Tuesday Wednesday Thursday Friday 1 Day 5 Day 1 = 27-Aug 28-Aug 29-Aug 30-Aug 31-Aug Change Change Euro US Dollar New Zealand Dollar Variable daily rate Monday Tuesday Wednesday Thursday Friday 1 Day 5 Day 1 $ = 27-Aug 28-Aug 29-Aug 30-Aug 31-Aug Change Change Pound Sterling Euro Australian Dollar Brazilian Real Canadian Dollar Swiss Franc Chinese Yuan Renminbi Japanese Yen New Zealand Dollar

11 World Wheat Supply and Demand Source: USDA Last updated Friday 10 August 2018 Change '17/18 - latest 2018/2019 Change May - August '18/ / / /2018 August Million tonnes May estimate July estimate Actual % Actual % estimate Beginning Stocks % % Production % % Total Availability , , , , % % Total Demand % % Of which : Animal Feed and Residual % % Trade % % Ending Stocks % % Stocks-to-use Ratio (%) 34.5% 35.0% 36.8% 35.2% 35.0% 34.9% -0.3% * -1.9% * * Percentage change not meaningful World Maize Supply and Demand Source: USDA Last updated Friday 10 August 2018 Change '17/18 - latest 2018/2019 Change May - August '18/ / / /2018 August Million tonnes May estimate July estimate Actual % Actual % estimate Beginning Stocks % % Production , , , , , % % Total Availability 1, , , , , , % % Total Demand , , , , , % % Of which : Animal Feed and Residual % % Trade % % Ending Stocks % % Stocks-to-use Ratio (%) 21.2% 22.0% 18.1% 14.6% 14.0% 14.2% -0.4% * -3.9% * * Percentage change not meaningful

12 UK SUPPLY AND DEMAND ESTIMATES (July - June Years) Latest estimates made in May '000 tonnes WHEAT BARLEY 2012/13 Absolute % 2012/13 Absolute % 2016/ / / / /18 change change 2016/ / / / /18 change change average estimate** estimate Mar-18 May-18 Mar-18 on 16/17 average estimate estimate Mar-18 May-18 Mar-18 on 16/17 (1) Opening Stocks 2,092 2,434 2,787 1,767 1, % 1,236 1,497 1,367 1,121 1, % (2) Production 14,464 16,506 14,383 14,837 14,837-3% 6,710 7,370 6,655 7,169 7,169-8% (3) Imports 2,039 1,509 1,870 1,500 1, % % (4) Total Availability 18,595 20,449 19,040 18,104 18, % 8,096 9,026 8,140 8,410 8, % (5) Human and Industrial Consumption (b) 7,663 7,360 8,089 7,625 7, % 1,890 1,833 1,863 1,911 1, % (5a) (of which home grown) 6,368 6,416 7,148 6,709 6, % n/a n/a n/a n/a n/a * * (6) Usage as Animal Feed (c) 6,908 7,094 7,236 7,394 7, % 3,460 3,613 3,655 4,068 4, % (6a) (of which home grown) 6,212 6,444 6,523 6,801 6, % n/a n/a n/a n/a n/a * * (6b) (of which Compounders) 3,697 3,845 4,034 4,162 4, % 1,102 1,108 1,132 1,346 1, % (6c) (of which Integrated Poultry Units) 1,349 1,210 1,211 1,241 1,241-2% % (7) Seed (d) % % (8) Other % % (9) Total Domestic Consumption 14,935 14,814 15,680 15,371 15, % 5,561 5,665 5,732 6,204 6, % (10) Balance (4) - (9) 3,660 5,635 3,360 2,733 2, % 2,536 3,361 2,408 2,206 2, % (11) Exports (e) 1,484 2,848 1, % 1,216 1,994 1,050-1,114-6% (12) Intervention Stocks (e) - - (13) Commercial End-Season Stocks (e) 2,144 2,787 1,754-1, % 1,269 1,367 1,106-1,117-1% (14) (of which Estimated Operating stock requirement) (f) 1,492 1,500 1,560 1,600 1,600-3% % (15) (of which free stock) (g) 652 1, % (16) Surplus available for either export or free stock (10)-(12)-(14) 2,136 4,135 1,638 1, % 1,746 2,601 1,396 1,436 1, % (17) Residual (10)-(11)-(13) MAIZE OATS /13 Absolute % 2012/13 Absolute % 2016/ / / / /18 change change 2016/ / / / /18 change change average estimate** estimate Mar-18 May-18 Mar-18 on 16/17 average estimate estimate Mar-18 May-18 Mar-18 on 16/17 (1) Opening Stocks % % (2) Production % (3) Imports 1,937 1,742 2,059 2,050 2, % % (4) Total Availability 2,153 2,051 2,207 2,321 2, % , % (5) Human and Industrial Consumption % % (5a) (of which home grown) % (6) Usage as Animal Feed 1,215 1,310 1,186 1,267 1, % % (6a) (of which home grown) % (7) Seed % (8) Other % % (9) Total Domestic Consumption 1,780 1,784 1,759 1,925 1, % % (10) Balance (4) - (9) % % (11) Exportable surplus % % (12) Commercial End-Season Stocks % % OTHER CEREALS (i) 2012/13 Absolute % 2016/ / / / /18 change change average estimate estimate Mar-18 May-18 Mar-18 on 16/17-0% (1) Opening Stocks (2) Production % (3) Imports % (4) Total Availability % (5+6) H&I and Animal Feed % (5a+6a) (of which home grown) % (7) Seed % (8) Other - (9) Total Domestic Consumption % (10) Balance (4) - (9) % (11) Exportable surplus - (12) Intervention Stocks - (13) Commercial End-Season Stocks % TOTAL CEREALS 2012/13 Absolute % 2016/ / / / /18 change change average estimate** estimate Mar-18 May-18 Mar-18 on 16/17 (1) Opening Stocks 3,646 4,352 4,400 3,274 3, % (2) Production 22,095 24,796 21,964 22,999 22,999-5% (3) Imports 4,185 3,452 4,103 3,711 3, % (4) Total Availability 29,926 32,600 30,467 29,985 30, % (5) H&I (wheat, barley, maize, oats) (g) 10,597 10,183 11,042 10,730 10, % (6) Animal Feed (wheat, barley, maize oats) (g) 11,877 12,256 12,363 13,042 13, % (5a Other cereals (H&I and Animal Feed) % +6a) (7) Seed % (8) Other % (9) Total Domestic Consumption 23,219 23,174 24,115 24,504 24, % (10) Balance (4) - (9) 6,706 9,426 6,352 5,480 5, % (11) Exports 2,874 5,027 2,692-1, % (12) Intervention Stocks - (13) Commercial End-Season Stocks 3,767 4,400 3,246-3, % (14) Estimated Operating stock requirement (wheat & barley only) 2,231 2,260 2,320 2,370 2,370-2% (15) Free stock for wheat and barley 1,182 1, % (16) Surplus available for either export or free stock (all) 4,493 7,167 3,618 3,111 2, % (17) Residual (10)-(11)-(13) Source: AHDB; Defra (a) These are revised during the year. Figures rounded to the nearest 1000 tonnes. Due to rounding, totals may not agree with the sum of the individual items. (b) Defra updated the registry for the UK flour millers survey in spring 2016, the wheat H&I usage has been adjusted to take account of this change. (c) Animal feed usage has been split by sector. Note, other users are only included in the total. (d) Seed numbers have been updated based on a number of assumptions, calculated for the purposes of the balance sheet only (e) Split of exports, intervention and total commercial end-season stocks only published for historical seasons (f) Estimated Operating Stocks Requirement is a calculated estimate of the minimum tonnage that users of grain require to get through to a point at which new crop can be utilised (g) Free stock is the stock available after both exports and estimated operating stock requirements have been fulfilled (h) 2014/15 new format: Maize demand in "Other food use" has been added to the H&I total for maize. This was previously included in the "Other" category (i) Includes mainly rye, triticale, mixed grain and sorghum * Percentage change not meaningful ** These balance sheets have been adjusted as per Defra's reliability allocation method In 2015, Defra reviewed how it uses survey estimates to achieve consistent cereals balance sheet estimates. The outcome of the review was the introduction of the reliability scores method used to allocate identified residuals across the balance sheet as and when required. Cereals balance sheets are published by AHDB Cereals & Oilseeds at

13 UK Intervention Intervention stocks as at: Thursday 13 October 2011 Commodity Provisional Opening Stocks as of 1st July 10 Stock at start of week Intakes Discharges Adjustments / transfers Stock at end of week Offers Offers this week Cumulative offers Withdrawn / rejected Cumulative net offers tonnes Barley Wheat Total Cereals 151, ,136 7, ,904 7, ,904 Barley Wheat Total Cereals Sales Cumulative Barley Wheat Barley 990/03 (Export) (Home) 2131/93 (Home) Available for sale ,136 Sold ,980 Paid For ,980 Removed ,232 Adjustments * Sales this week Up for sale Sold Paid for Removed Adjustments Barley Wheat Barley (Export) (Home) (Home) Source: Rural Payments Agency. EU-27 Cereal Intervention Stocks - Summary Management Committee: 04-Jul-13 tonnes Total Common Durum Barley Rye Maize Sorghum EU-27 Wheat Wheat A. SITUATION ON 28/06/ Beginning Stocks 92, , Quantities taken over 0 3. Quantities sold 92, ,426 A. Internal Market B. Export 0 C. Most deprived persons 92, ,202 D. Losses/Adjustments Gross Balance (1+2-3) 0 5. Quantities Committed 0 A. Internal Market 0 B. Export 0 C. Most deprived persons 0 6. Net Balance (4-5) 0 7. Quantities under Offer 0 8. QUANTITIES OFFERED For the week 0 Source : EU Commission. Please Note: Due to the absense of cereal stocks, the weekly intervention summary will not be updated until futher notice as advised by EU Commision Unit AGRI-D.2

14 EU-15 Cereal Intervention Stocks Management Committee: 04-Jul-13 tonnes CEREALS EU-15 BE DK DE EL ES FR IE IT LU NL AT PT FI SE UK A. SITUATION ON 28/06/ Beginning Stocks 92, ,120 23,748 5, Quantities taken over 0 3. Quantities sold 92, ,120 23,748 5,161 A. Internal Market B. Export 0 C. Most deprived persons 92, ,116 23,676 5,161 D. Losses/Adjustments Gross Balance (1+2-3) 0 5. Quantities Committed 0 A. Internal Market 0 B. Export 0 C. Most deprived persons Net Balance (4-5) 0 7. Quantities under Offer 0 8. QUANTITIES OFFERED for the week 0 Please Note: Due to the absense of cereal stocks, the weekly intervention summary will not be updated until futher notice as advised by EU Commision Unit AGRI-D.2 Source : EU Commission. EU New Entrant Cereal Intervention Stocks Management Committee: 04-Jul-13 tonnes CEREALS EU-27 EU-15 EU-12 CZ EE CY LV LT HU MT PL SI SK BG RO A. SITUATION ON 28/06/ Beginning Stocks 92,426 92, Quantities taken over 3. Quantities sold 92,426 92,426 0 A. Internal Market B. Export C. Most deprived persons 92,202 92,202 0 D. Losses/Adjustments Gross Balance (1+2-3) 5. Quantities Committed A. Internal Market B. Export C. Most deprived persons 0 6. Net Balance (4-5) 7. Quantities under Offer 8. QUANTITIES OFFERED for the week Please Note: Due to the absense of cereal stocks, the weekly intervention summary will not be updated until futher notice as advised by EU Commision Unit AGRI-D.2 0

15 EU Import Duties and TRQs Import duties and Tariff Rate Quotas (TRQs) are mechanisms used by the European Union under the Common Agricultural Policy. A limited volume of grain (the TRQ) which is set annually can be imported into the EU subject to the EU import duties calculated below. Once the TRQ is reached, grains can still be imported into the EU but at a higher rate of import duty. Variable EU Import Duties are updated by the EU Commission if the average duty calculation over a rolling 10-day period moves more than 5/tonne or returns to zero. Variable EU Import Duties Valid from: Friday 2 March 2018 Representative Current Reference World Fob Freight Rep World Duties from 02-Mar-18 World Standard Intervention Price Price Premium Price (Cif EU) /tonne /tonne 4 Price Grain a b c d e=b+c+d (a-e) Wheat (High) 5 US HRS No.2 14% Wheat (Medium & Low) Durum Wheat (High) 8 US HRS No.2 14% Barley (All Barley) Maize 6 US YC No Rye 7 US YC No Sorghum 7 US YC No Converted using the euro/ rate of as at Friday 2 March NOTES: 1) Calculated by subtracting the representative world (cif EU) price from the import reference price (the intervention price raised 55 percent). Except medium and low quality wheat and barley which are subject to the TRQ system. The values shown are averages over the reference period. 2) For merchandise arriving into the EU by the Atlantic Ocean or via the Suez Canal (Article 2 paragraph 4 of Regulation (CE) No 1249/96) the Importer can benefit from a reduction in import duty of: 3 euro per tonne if the port of unloading is within the Mediterranean or 2 euro per tonne if the port of unloading is in Ireland, UK, Denmark, Sweden, Finland, Estonia, Latvia, Lithuania or on the Atlantic Coastline of the Iberian Peninsular. 3) Official Duties from the European Commission. 4) Converted using the official customs euro sterling rate given above. 5) With a view to calculating the component of the relevant fob quotation, the following premium applies: a premium of EUR 14 per tonne for high quality common wheat is added when the conditions tabled in Article 4 paragraph 3 of Regulation (CE) No 1249/96 are fulfilled. 6) The importer can benefit from a fixed reduction of 24 euro per tonne for flint maize when the conditions tabled in Article 2 paragraph 5 of Regulation (CE) No 1249/96 are fulfilled. 7) With effect from 5 July 2011 the representative cif import prices for sorghum and rye are those calculated for maize. 8) With effect from 18 March 2014 the representative cif import price for high quality durum is that calculated for high quality common wheat. EU Balance of TRQ Allocations As at: Friday 24 August 2018 Out of TRQ In TRQ TRQ TRQ TRQ Tariff Tariff Utilised Available Balance Grain / tonne / tonne tonnes tonnes tonnes Wheat (Others) (January - March Tranche) , , ,500 Wheat (Others) (April - June Tranche) , , ,376 Wheat (Others) (July - September Tranche) ,552 1,145, ,309 Wheat (Others) (October - December Tranche) , ,596 Wheat US (Annual Tranche) , , ,015 Wheat Canada (Annual Tranche) , ,000 90,098 Wheat All Third Countries (Annual Tranche) , ,790 24,327 Wheat (Ukraine) (Annual Tranche) , ,000 0 Wheat (Ukraine) (Annual Tranche) ,000 65,000 0 Malting Barley (Annual Tranche) ,890 50,890 Barley (Annual Tranche) , , ,016 Barley (Ukraine) (Annual Tranche) , , ,394 Barley (Ukraine) (Annual Tranche) , , ,861 Maize (January - June Tranche) 6 see variable duty 0 138, ,994 0 Maize (July - December Tranche) 6 see variable duty 0 139, ,432 0 Maize (Ukraine) (Annual Tranche) 6 see variable duty 0 500, ,000 0 Maize (Ukraine) (Annual Tranche) 9 see variable duty 0 625, ,000 0 NOTES: 1) Tariff Rate Quotas (TRQs) implemented as of 4th January. 2) The 2,378,388 tonne TRQ for Wheat (Others) is split into 4 tranches. The Commission retains the right to advance tranches depending on market conditions. Any wheat left over from the first tranche has to be rolled over into the second etc. 3) The TRQ for wheat from the US & Canada, and the TRQ for barley is an annual volume with no monthly limit. This is available as of January 1st. 4) Once the TRQ limit has been reached, wheat will be subject to a 95 euro per tonne tariff, and barley a 93 euro per tonne tariff. 5) If the US quota is unfulfilled, this allocation may be opened to other countries subject to approval by the US. 6) Maize imports under the TRQ are duty-free, while those outside the TRQ incur the variable calculated import duty. 7) Tariffs for low and medium quality wheat and barley under the TRQ are currently 12 Euro/Tonne for Wheat and 16 Euro/Tonne for Feed Barley 8) TRQ remaining in future quarters is set to 0 until we enter that quarter. 9) Ukraine now has an additional TRQ for the supply of wheat, maize and barley products, following the introduction of Commission Implementing Regulation 2017/2200. For more information on this refer to the EU Commission website.

16 Customs Surveillance Data The information below is from the TAXUD (EU Taxation and Customs Union) Surveillance System (Customs Surveillance). The volume and origin of the consignment is recorded for each transaction According to Art.55(2) of Commission Implementing Regulation (EU) 2015/2447, once a week the customs authorities provide the Commission with data on customs declarations for the goods that have been, subject to surveillance, released for free circulation or exported. The licence requirements have been amended by Regulations (Ell) 2016/1237 and 2016/1239 of 18 May 2016, (Official Journal L 206, 30/07/2016) and are applicable from 6 November As a result, the weekly certificate reports will no longer be available. EU Export Last Updated: Monday 03 September 2018 tonnes Change in Cumulative Total past week This Season UK EU UK EU Common Wheat - 315, ,074,697 Common Wheat Flour (1) - 16,186-78,791 Durum Wheat - 2, ,306 Total Wheat - 334, ,191,794 Durum Wheat Meal (2) - 2,967-21,413 Durum Wheat Flour - Barley - 264,903-1,203,193 Malt (3) - 45, ,257 Maize - 9, ,873 Rye Rye Flour - Oats 39 1, ,787 Sorghum Milet - Total , ,838,856 EU Import Last Updated: Monday 03 September 2018 tonnes Change in Cumulative Total past week This Season UK EU UK EU Common Wheat 8, ,018 51, ,045 Common Wheat Flour (1) ,321 Durum Wheat , ,597 Total Wheat 8, ,270 53, ,963 Durum Wheat Meal (2) Durum Wheat Flour - Barley ,162 Malt (3) Maize 20, , ,154 2,127,357 Rye - 5, ,856 Rye Flour - Oats Sorghum 73 1, ,182 Milet - Total 29, , ,213 2,740,645 Conversion Factor Grain Equivalent Table: The data is expressed in quantity of the product itself, unless otherwise stated. Below are the conversion specifications for the products listed in the EU Export & EU Import tables above. Product Wheat flour (Wheat equiv.) (1) Conversion Factor Grain Equivalent Product Conversion Factor Grain Equivalent Durum wheat meal (Durum wheat equiv.) (2) Product Malt (Barley equiv.) (3) Conversion Factor Grain Equivalent 1.27 Difference between "customs surveillance" data and "issued licences" data The "issued licenses" data represent a commitment of the operator to import or export in the future a quantity of products covered by the licence during its period of validity (in general 1+4 months for exports and 1+2 months for imports). The actual imports may take place in another Member State than the one where the licence was issued. The data derived from "issued licenses" also have a tolerance of 5% on the amount for which the license has been issued. The "customs surveillance" data, on the other side, provide actual and prompt information about the trade (import/export) transaction in terms of volume and origin or destination.

17 Customs Summary Last updated Monday 13 August 2018 tonnes Jul-Jun Jul-Jun Jul-Jun July August September October November December January February March April May June EXPORTS Wheat EU 1,146,474 1,146, ,798 16,245 55,283 74,793 46,091 53,528 24,559 33,840 37,381 40,385 26,544 22,893 10,255 Non-EU 297, ,127 2, , Total 1,443,602 1,443, ,804 16,259 55,616 75,301 47,157 53,552 24,566 33,843 37,418 40,392 26,544 22,893 10,263 Barley EU 1,000,900 1,000,900 1,032, , ,261 90,405 74, , , ,272 65,286 68,666 80,539 30,032 33,480 Non-EU 49,012 49,012 78, ,235 26, , Total 1,049,913 1,049,913 1,110, , ,261 90,408 75, , , ,289 65, ,915 80,540 30,033 33,503 Oats EU 16,456 16,456 28,583 3,807 6,913 5,722 1, ,019 1, , Non-EU 4,375 4, Total 20,831 20,831 29,022 3,841 6,925 5,793 1, ,066 1, , , Rapeseed EU 186, , ,715 17,051 3,188 1, ,358 5,832 35,026 15,162 19,482 8,157 8,496 Non-EU Total 187, , ,912 17,051 3,188 1, ,358 5,832 35,026 15,162 19,482 8,354 8,496 IMPORTS Wheat EU 1,242,844 1,242,844 1,169,075 88, ,732 73, ,679 84,858 75,622 81,274 82,284 71, , , ,427 Non-EU 626, , ,593 74,412 28,932 57,647 43,056 76,027 45,055 58,927 12,442 62,948 28,054 52,908 81,184 Total 1,869,687 1,869,687 1,790, , , , , , , ,201 94, , , , ,611 Barley EU 111, , ,182 12,588 17,561 10,428 4,146 9,438 3, * 1,787 6,059 2,190 10,292 12,205 Non-EU 5,985 5, Total 117, , ,274 12,589 17,584 10,433 4,147 9,460 3,406 12,090 1,790 6,082 2,193 10,292 12,206 Oats EU 52,393 52,393 23,906 4,977 3,479 4,795 2, ,336 1,316 1, , ,390 Non-EU Total 52,414 52,414 23,913 4,978 3,479 4,798 2, ,336 1,316 1, , ,391 Maize EU 1,117,518 1,117,518 ** 58,533 55,154 56, , , * 69970* 38, , * ** ** Non-EU 940, , ,251 82, ,177 32,234 89,222 27,180 74, ,407 49, ,455 63,303 71,088 49,763 Total 2,058,436 2,058,436 ** 140, ,331 89, , , , ,377 88, , ,831 ** ** Linseed EU 13,595 13,595 14,828 1,850 1, ,780 1,070 1,201 1,456 1, ,070 1, Non-EU 1,384 1, Total 14,978 14,978 15,752 1,874 1, ,823 1,173 1,246 1,552 1,147 1,005 1,220 1,142 1,059 Soymeal & cake EU 423, , ,672 19,902 39,882 28,527 23,695 26,451 27,783 21,055 13,103 14,516 22,021 32,232 36,504 Non-EU 1,622,760 1,622,760 1,565, , ,260 86, ,533 97, , , , ,307 85, , ,632 Total 2,046,255 2,046,255 1,871, , , , , , , , , , , , ,136 Soybeans EU 14,046 14,046 16,448 1,691 1,113 1,103 1,152 1,372 1,223 1,455 1,750 1,481 1,537 1,349 1,222 Non-EU 765, , ,647 56,207 68,972 55, ,380 65, ,771 57,554 56,632 54, ,093 Total 779, , ,095 57,898 70,085 56,399 1,495 77,753 67,162 2, ,521 59,035 58,169 55, ,315 Rapeseed EU 125, , ,826 9,664 38,216 65,608 26, ,814 1,650 4,768 30,897 51,222 Non-EU 121, , Total 247, , ,835 9,664 38,216 65,608 26, ,814 1,654 4,768 30,897 51,227 *In query with HMRC ** 15/08/ Please note that there is an outstanding query with HMRC on the Below Threshold Trade Allocation (BTTA) for the amount of Romanian maize imported by the UK in May and June. HMRC publish BTTAs to HS2 chapter level (i.e. Cereals) in its interactive tables on its website. HMRC provide AHDB with BTTAs to CN8 code level, leading to a greater detail of data for individual commodities (i.e. Maize). To view the above trade threshold figures for maize imports in May and June 2018, please refer to the interactive tables on the HMRC website: What is BTTA? All UK VAT registered businesses who reach a set threshold for their value of trade with other EU Member States are required to submit Intrastat declarations for the production of intra-eu trade statistics. The trade value for businesses below this threshold can be identified from their VAT returns, but without detail on commodity and partner country. BTTA is the process whereby this value is allocated to particular commodity and partner country combinations. This is done by analysing the patterns of trade from the previous year, specifically looking at those business above but close to the threshold, in comparison to Intrastat trade overall. Factors generated from this are then used for the following year's BTTAs (HMRC). Maize trade queries 2017/18 December - Imports from Ireland January - Imports from Ireland April - Imports from Ireland May - Imports from Romania; imports from Ireland; imports from France June - Imports from Romania; imports from Ireland

18 Custom figures - Third Country Trade Only Last updated Monday 13 August 2018 tonnes Jul-Jun Jul-Jun Jul-Jun July August September October November December January February March April May June EXPORTS Wheat Algeria 206, ,646 0 Argentina Australia Bahamas Bahrain Br Virgin Is Cameroon Canada 6,789 6, China Hong Kong Iceland 1,711 1,711 1,048 1, Indonesia Israel Kenya Kuwait Libya Mexico Morocco 9,800 9, New Zealand Norway 2,116 2, Pakistan Qatar Saudi Arabia Singapore South Africa Sri Lanka Switzerland Turkey UAE USA Vietnam 69,973 69,973 0 Total 297, ,127 2, , Barley Algeria 24,997 24,997 51, ,249 Argentina Bangladesh Canada Hong Kong Iceland 1,301 1,301 1,194 1, Japan Libya 15,959 15,959 0 Russia 6,301 6,301 0 South Africa South Korea Switzerland Tunisia , ,044 0 UAE USA Total 49,012 49,012 78, ,235 26, ,

19 Custom figures - Inter - EU Trade Last updated Monday 13 August 2018 tonnes Jul-Jun Jul-Jun Jul-Jun July August September October November December January February March April May June EXPORTS Wheat Austria Belgium-Luxembourg 187, ,122 14,840 2, , , ,20 Bulgaria Croatia Cyprus Czech Republic Denmark Eire 164, , ,711 13,342 19,783 26,514 18,788 18,590 16,619 12,088 11,658 17,468 12,044 10,681 2,137 Estonia Finland France 63,355 63, Germany 3,166 3,166 3, Greece 4,350 4,350 1 Hungary Italy 37,920 37,920 12,407 5, Latvia Lithuania Malta Netherlands 331, , , ,411 13,210 9,178 24,847 7,855 8,580 3,876 15,533 5,694 12,182 8,054 Poland Portugal 141, ,955 17, ,400 4,164 4,445 4, Romania Slovakia Slovenia Spain 212, ,203 89, ,111 27, , ,069 10,486 7,358 6, Sweden Total Total 1,146,474 1,146, ,798 16,245 55,283 74,793 46,091 53,528 24,559 33,840 37,381 40,385 26,544 22,893 10,255 Barley Austria Belgium-Luxembourg 157, , ,234 3,900 4,621 3,872 9,544 11,779 15,679 19,178 9,638 9,652 12,370 9,649 12,353 Bulgaria Croatia Cyprus Czech Republic Denmark Eire 109, , ,525 22,469 13,927 23,966 11,158 20,901 11,144 16,759 22,751 24,202 25,923 9,905 8,419 Estonia Finland France 58,807 58,807 7, , , Germany 122, ,198 92,404 5,107 3,841 2,376 23,077 12,428 20,821 8,973 3,152 8,166 1,353 3,111 0 Greece 8,426 8,426 0 Hungary Italy Latvia Lithuania Malta Netherlands 210, , ,152 11,536 3,647 25,208 17,264 19,320 24,769 7,663 11,951 3,776 13,627 2,744 12,649 Poland 2, Portugal 135, , ,356 12,759 30,888 19, ,692 30,979 29, , Romania Slovakia Slovenia Spain 195, , ,659 60,242 80,368 15,631 8,192 19,132 19, ,738 3,979 10,402 4,396 0 Sweden 1,463 1, Total Total 1,000,900 1,000,900 1,032, , ,261 90,405 74, , , ,272 65,286 68,666 80,539 30,032 33,480 *In query with HMRC

20 Oilseed, Meal & Pulse Trade Last updated Monday 13 August 2018 tonnes Commodity Commodity Jul-Jun Jul-Jun Jul-Jun July August September October November December January February March April May June Codes Exports Rape or colza seed , , ,912 17,051 3,188 1, ,358 5,832 35,026 15,162 19,482 8,354 8,496 Linseed ,720 23,720 25, ,914 1,515 3,054 1,533 1,682 3,158 1,833 3,401 Total Rape & Linseed 210, , ,188 20,562 4,218 2,460 2,000 2,063 4,873 8,885 36,559 16,844 22,639 10,187 11,898 Peas ,496 23,496 22,541 1,646 1,317 2,039 2,645 1,891 1,274 2,391 1,525 1,941 2,540 1,452 1,878 Broadbeans , , ,730 6,504 1,229 10,291 30,215 35,095 16,376 7,635 15,212 9,987 5,703 13,528 5,956 Total Pulses 170, , ,271 8,150 2,546 12,331 32,860 36,985 17,650 10,026 16,737 11,928 8,243 14,980 7,834 Imports Rape or colza seed , , ,835 9,664 38,216 65,608 26, ,814 1,654 4,768 30,897 51,227 Sunflowerseed /99 34,595 34,595 33,008 1,938 2,416 2,855 4,193 2,214 2,994 3,152 1,935 3,633 3,223 2,896 1,559 Soyabeans , , ,095 57,898 70,085 56,399 1,495 77,753 67,162 2, ,521 59,035 58,169 55, ,315 Cottonseed Total main Oilseeds 1,061,092 1,061, ,938 69, , ,862 31,923 80,289 71,018 5, ,270 64,322 66,160 89, ,102 Wheat brans, sharps , , ,967 19,650 9,509 8,498 19,400 25,388 9,460 16,962 12,141 18,871 21,646 8,176 11,267 Other brans and sharps /90 8,304 8,304 4, Maize gluten feed , , ,107 15,751 9,718 12,127 35,246 16,394 22,475 42,222 6,919 14,901 8,451 19,137 13,767 Beet pulp , , , ,598 7,456 9,966 35,922 15,580 11,126 6,600 37,522 7,815 17,200 Beet pulp waste ,208 57,208 29, ,358 5, ,178 3,395 Distillery waste / , , ,415 46,439 50,081 20,577 47,818 53,251 44,883 89,597 20,512 60,993 36,456 56,815 34,994 Sweet potato flakes ,701 16,701 16, , , ,138 1,455 2,436 1,959 Soyameal and cake ,046,255 2,046,255 1,871, , , , , , , , , , , , ,136 Linseed meal/cake ,804 8,804 1, Sunflower seed cake , , ,831 16,196 35,288 31,049 45,732 42,863 37,077 83,306 33,907 82,451 20,095 47,855 11,013 Rape/colza seed cake / , , ,654 9,826 5,581 18,020 12,905 19,287 14,096 10,770 9,460 5,499 10,280 11,674 5,256 Coconut/copra meal Palm nut kernel cake , , ,760 32,024 5,213 61,716 35,731 55,795 64,641 1,001 49,508 36,416 17,496 66,080 27,139 Total main NCFIs 4,454,665 4,454,665 4,110, , , , , , , , , , , , ,498 Rape or colza seed oil ,917 72, ,297 29,408 89,713 4,821 8,726 2,931 2,932 2,753 22,185 5,868 3,396 6,859 8,705 Sunflower seed oil , , , , ,863 23, ,715 28,098 22,093 20,992 31,320 15,921 Soya bean oil , , ,231 10,177 17,011 11,916 26,419 16,267 11,643 12,967 18,789 13,179 12,999 18,144 9,719 Palm nut kernel oil ,432 23,432 25,838 3,915 2, , ,038 1,231 1,878 2,377 3,002 2,349 1,383 Coconut/copra oil ,816 15,816 22, ,716 1,670 Cottonseed oil / Total main Oils 513, , ,834 67, ,688 38,123 63,158 45,116 52,958 52,291 72,923 45,297 42,628 60,389 37,440