AUTUMN 2009 VOL 7, ISSUE 3 www.gleadell.co.uk
The Changing Face of the UK Grain Sector The dramatic change in the structure of the UK grain market will really start to become evident in the next 18 months. The advent of up to three wheat-based ethanol plants will create ‘new’ grain demand, whilst feed compounding continues to reduce in volume and a major starch plant is closing imminently. The ethanol plants will also produce a sizeable tonnage of DDGs (dry distillers grains) which will present opportunities for the livestock sector, competition for other feed ingredients and a marketing challenge for those involved in trading these products. All of this will result in changed dynamics for the UK wheat market, with a lower exportable surplus in the north and a larger surplus south of The Wash. We may well see a rise in grain movement within the UK by vessel, i.e. south
counties ready access to international market opportunities provided uniquely to Gleadell via our shareholders Toepfer International and Union InVivo. Courtesy of Farmer’s Guardian
to north, and Scotland may look to Danish or Scandinavian wheat as much as English to meet their requirements. Gleadell are well-positioned to serve farmers and consumers in this new market that will change the dynamics and market parities that many in the grain trade have become used to. Our investment in Immingham will continue to provide storage and drying facilities for farmers and grain consumers, whilst exports of many different kinds of arable crops will, we believe, still be an important market for UK farmers. Our investment in a grain store and shiploader in Great Yarmouth will bring a similar level of expertise and facilities to farmers and consumers in East Anglia. Whilst in Southampton, our acquisition of our own shiploader will give farmers in the southern
Together with the provision of first class facilities, we see a continuing need for the provision and analysis of first class world market information. Volatility is here to stay and the Gleadell Grain Pool, alongside our other risk management products, remains the best-performing national grain pool for UK farmers and an increasingly popular low cost, hands-free option for farmers with better things to do than constantly monitor grain markets. For some, the future will seem daunting and laden with risk, but we see lots of opportunities ahead, and we will be aiming to increase and improve the service we offer to farmers and users of grain in the years to come. David Sheppard, managing director, Gleadell Agriculture
Gleadell Company Performance 2008/9 2008/9 saw Gleadell load/unload 300 vessels, trade a record grain tonnage of over 2.2 mln tonnes, including a record milling wheat tonnage - and sell a record fertiliser tonnage. The Gleadell Pool showed a large increase for 2009/10, and turnover was up 36% on 2007/8 at £358m. All-in-all a successful year for the company.
The run up to the 2009 harvest has been pretty similar to the period JuneAugust in the previous year. In 2008 prices fell from well over £150 per tonne to sub £100, whilst this season, between June and September, the market fell by a similar amount to see feed wheat fall below £80 in some regions. The reasons behind this fall are that a) the world has produced the second largest wheat crop ever b) the world has rebuilt stocks to the highest level since 2000/2001 c) European crops, both inside the EU and in eastern Europe, have exceeded expectations, and d) a large carryover stock level throughout the EU - and particularly in the UK - has weighed heavily on the market. The fall in prices came despite the UK producing approximately 3 million tonnes less than in 2008 and clearly demonstrates, yet again, that the world market is the key driver for our market and those who base their market view solely on UK data will get it wrong – to the detriment and at the cost of their pool members. We were well-informed as to crop performance, particularly in eastern Europe and in France and Germany, and ensured that we had sold 100% of our harvest
and Oct/Dec pools as the UK harvest began. UK crop quality is better than in 2008 and mycotoxins are not a significant issue, but we face competition from the Black Sea, Baltic countries and other EU regions to export our surplus. Our exportable surplus is between 2 and 2.5 million tonnes and, to date, exports are proving difficult despite a weaker £.
POOL PRICES PAID – NET OF COMMISSION 125.00
105.00 95.00
Average Price £105.11 85.00 75.00
Milling Prices £110.25 to £138.75 depending on quality/grade
65.00 NOV
Contents
MARKET PROSPECTS • Feed Grain • Pulses • Oilseed Rape • Malting Barley • Organics • Milling Wheat
02
THE TWIN PORTS • Gateway to the UK's agricultural, industrial and retail markets
Gleadell Agriculture Limited
04
Base Price £103.25
Highest Price £108.75 115.00
£/t
Gleadell Harvest 2009 Wheat Pool
DEC
JAN FEB
MAR
APR
MAY
JUN
JUL
AUG
FOCUS ON FERTILISER
06
GLEADELL BUILDS FOR THE FUTURE
FOCUS ON SEED
07
• Investing in people • Great Yarmouth Grain Terminal
www.gleadell.co.uk
SEP
08
Feed Grain
domestic demand, the exportable surplus is still seen over 2mln/t. With the UK currently uncompetitive for exports, and cheaper EU, Eastern
Global 2009 wheat production has risen
EU and Black Sea wheat offered, even this much-reduced surplus looks a
to 666mln/t as better than expected
challenging target to shift.
yields in the northern hemisphere and crop-saving rainfall in Australia has
In summary, with global wheat
boosted the outlook for crop production.
production and stocks rising, potential
Although this year's crop is short of last
record US corn and soyabean crops on
season's record of 682mln/t, stocks are
the horizon, and the probability of the
projected to increase again to 187mln/t,
UK 2010/11 wheat planted area
even allowing for an increase in use
returning to the level of two years
(lower feed but increased
ago, price rallies remain selling
food/industrial) to a record 646mln/t.
opportunities for farmers.
EU wheat production, now forecast at
David Woodland, trader
131mln/t by COCERAL is approximately
UK SUPPLY AND DEMAND - WHEAT
10mln/t lower than last year. For most of
2009/10
last season the EU worked under the
ESTIMATE (1,000T)
spectre of an aggressive export campaign from the Black Sea region and, although
OPENING STOCK PRODUCTION
2.888 14.169
production for 2009 is predicted to be
IMPORTS
0.900
lower, increased stock levels have
TOTAL AVAILABILITY
17.957
allowed exports to continue at a record
HUMAN/INDUSTRIAL USE
7.100
pace at the start of the new campaign.
ANIMAL FEED
6.385
Within the UK, the recent revision of the
SEED / OTHER
0.400
UK area by DEFRA has resulted in most
TOTAL DOMESTIC CONSUMPTION
13.885
BALANCE
4.072
CLOSING STOCK
2.000
trading houses reducing their crop forecasts. The area, seen sharply lower than the HGCA planting survey, would place the wheat crop at approximately
EXPORTABLE SURPLUS 2.072
14mln/t working on average yields. However, with a sharply higher carry-in stock figure and a 200,000mt increase in
Organics
MILLING WHEAT
MARKET SUMMARY Uncertainty in the organic sector continues to frustrate both supplier and consumer. Raw materials required for feed and milling usage are still being traded on a hand to mouth basis. Business is ongoing, albeit a little slow, and all organic commodities will find their way into the supply chain, although not as quickly as some suppliers would like. In contrast to last year, overall quality is much improved and human consumption is more reliant on home grown supply. It is good to report that imports have not compromised domestic supply. Brian Wilburn, organic trader
02
All round quality vastly improved on last year, however, quality is variable on Hagberg and protein levels. It is good to report that the millers’ demand for home grown produce will lead to an increase in usage for this season.
FEED WHEAT In general, most crops will meet the kg/hl AND BARLEY weight required by the compounder. Lower nitrogen. MALTING BARLEY
PULSES
Good kg/hl weight and quality achieved will meet malting standards. Movement is very slow due to old crop carryover and limited home grown/export business. Quality good and no problems on delivery to end users.
MILLING OATS Kg/hl weight good and, in general, above the standard required. Colour is variable depending on region. TRITICALE
A much better crop this season, however, restricted to a few end users.
Oilseed Rape Last autumn the UK and Europe experienced the worst autumn drilling conditions for years and establishment subsequently suffered. We were being told by leading agronomy companies that, in some cases, they doubted whether the crop would make it through the winter! It was a similar picture in the Ukraine, who were the largest third country supplier into the EU last campaign. Having harvested a record crop in 2009, a combination of poor drilling conditions and late frosts cut their pre-harvest production forecast by nearly 50%. When the combines got into the crops in Europe we were all hugely surprised! The developing rapeseed crops appeared to have benefited from June rainfall and returns were far better than anticipated. These bumper crops caused huge logistical issues on the continent as farmers who had carried old crop wheat found they had little storage space to manage these super yields, and prices tumbled as a result. From the demand side we have seen a jump in processing capacity in the EU and better margins are keeping crushers working at capacity. On the production side of the equation, rapeseed and canola is largely known and understood – we are now waiting to see whether the US is able to realise the forecast record soya crop this autumn followed by outcome of the South American soy crop in Feb/March 2010. If these crops are both a record, it may be difficult to see the market rallying too far. However, with such a tight global supply and demand picture for oilseeds, the world really needs two good crops to re-build stocks back to safe levels. These two key oilseed harvests combined with the influence of outside markets - crude oil, equities and currency - will drive what will be a volatile market through the next six months. Jonathan Lane, trading manager
MARKET PROSPECTS
Milling Wheat The new season quality is much better than last year. Hagbergs in general have been good, proteins probably 0.5 - 0.75% higher year on year, and DON mycotoxins have been seen at very low levels on samples taken from this season's grain. As a result of the general better quality, premiums have come down. Although most premiums are not as good as last year, they
Malting Barley Market collapses on economic woes and record surpluses but recovery likely in 2010.
MALTING BARLEY FACTS
• THE ECONOMIC CRISIS IMPACTS HEAVILY ON DEMAND FOR BEER/ SPIRIT PRODUCTS.
• MALT MARKET DEPRESSED, STOCKS VERY HIGH, DEMAND WELL DOWN.
• RECORD EU MALTING BARLEY CROP FOR THE 2ND YEAR RUNNING.
• MALTING BARLEY PRICES HAVE COLLAPSED.
• 2010 MALTING AREA FORECAST TO FALL DRAMATICALLY.
• PRICE RECOVERY FORECAST FOR LATE 2010.
Pulses Every year is different. To date, this year is presenting marketing problems for the pulse market, particularly for beans. In summary, carry-over stocks from last season in Egypt accounted for approximately 50,000t – a large figure. Add to this the production from their own domestic crop of 50,000t a large figure for Egypt - and it was apparent from an early stage that fresh import requirement for Ramadan was likely to be very low. Existing contracts from France accounted for another 60,000t, plus some early shipments from the UK has pushed up
still remain attractive and historically at very high levels. Milling wheat is in good demand again this season and many millers are still making gristing decisions, so there will be plenty of opportunity for a number of different types of quality across the different nabim wheat classes. The export market is quite active, and there is good demand for soft milling wheat (Group 3) and Group 1 and 2 milling wheats. Although premiums have come down since the harvest began, we cannot see too much further downside potential, although every parcel we have sampled seems to be usable, so we do
The combination of a 10%+ decline in the EU beer and spirit sales, de-stocking by retailers, a very large malt and malting barley carry in and for the second year running a near perfect EU malting barley crop - have all contributed to the collapse of the EU malting barley market. On the continent we have had a record quality crop, with France and Scandinavia still having very big surpluses to sell whilst the importing countries, such as Germany, have a vastly reduced demand. We have a surplus today of around 2mln/t with very few outlets. In the UK the winter malting barley crop was of excellent quality with only 15% testing over 1.80 nitrogen. The UK spring area is up 20% with good yields but mixed quality. The South (Sussex westward) and West Country have had a very poor crop, with weathered, germination, splits, sprouts, and Fusarium problems. The quality in the Midlands is mixed with some washed looking samples, mould, and pre-germ. Both Yorkshire and East Anglia had an excellent crop. Scotland has had a very poor harvest, but their total Egyptian stocks to approx 180,000 to 200,000t. To put this into perspective, with the total Egyptian demand likely to be 350,000t for a full year, it is clear to see that the market is well supplied. Defra also added to the problem by declaring the UK planted area up 25% to 183,000 hectares. With an average yield of 4t/ha, the UK bean crop could be as high as 700,000t for the season. A large figure on any basis. French crop predictions for the season are 350,000t, most of which are of Human Consumption standard. Finally, the Australian crop looks to be on track to a normal harvest and, when they come to
not see too much upside on premiums either. The key this year is being sure of the terms you are selling on and the home it is going to. The headline price is important - but it is equally important to know your terms, the end home and what fall-backs are available if your wheat should not make 'full spec'. We have demand for a range of different specs and qualities for the export and domestic markets, and there will be many useful opportunities this season. Marc Rogerson, trading manager
demand is vastly reduced and they have enough supply to get through to next season. We have a surplus of around 500,000t of spring barley and at least 300,000t of winter. So where do we go from here? This season’s EU malting barley demand is all but covered and we recommend that growers sell into any short markets that appear. For harvest 2010, it is likely that we will see a big fall in the EU spring malting barley area (subject to weather) due to current market conditions. We will, however, have another big malting barley carry in as well as the problem of big malt stocks. This will make marketing difficult in the harvest to October period. We are then likely to see a much tighter supply situation due to the forecast of a very large drop in the spring malting area. This bullish scenario may also coincide with a strong wheat demand competing for acres as the 2mln/ t+ needed for bioethanol will have finally come on stream. We may even have seen the end of the recession and an upturn in beer and spirit sales. Could we see £150 to £200/t some time soon? Stuart Shand, sales director
harvest in December/January, there could be another 75,000t to add to the party. When you add all these supplies up, the Egyptians are clearly able to pick and mix from the cheapest suppliers and, with UK farmers reluctant to sell, we could find ourselves with a large carry over stock at the end of the campaign for the first time in many years. We recommend that farmers lock into prices at around current levels to avoid the lack of any market later in the season. Ian Skinn, pulses trader
GLEADELL AGRICULTURE
03
THE TWIN PORTS
THE TWIN PORTS OF GRIMSBY & IMMINGHAM SIT AT
The Ports were developed over a period of 60 years by the Great Central Railway Company.
THE ENTRANCE TO THE RIVER HUMBER, THE BUSIEST COMMERCIAL ESTUARY IN THE UK, HANDLING OVER
After a series of ownership changes during the twentieth century, including privatisation in 1983, the ports form part of Associated British Ports,
93 MILLION TONNES A YEAR WHICH EQUATES TO 16%
the UK’s largest and leading port group.
OF THE UK’S SEABORNE TRADE.
ABP owns and operates 21 ports including Hull, Southampton, Ipswich and Cardiff and is now
John Fitzgerald, Port Director Grimsby &
infrastructure investment companies. Immingham is the UK’s largest port in tonnage
Immingham, describes
terms, handling over 55 million tonnes in 2008.
the development of the
Over £250 million of private capital has been
twin ports and ABP’s
invested in new terminals and storage facilities
long and productive
04
owned by a consortium of four global
in the last 10 years. Immingham’s wide-ranging business encompasses dry and liquid bulks,
partnership with
trade cars, freight ferries, short sea containers
Gleadell Agriculture.
and a wide variety of general cargo.
THE TWIN PORTS
GATEWAY TO THE UK’S AGRICULTURAL, INDUSTRIAL AND RETAIL MARKETS The port’s central east coast location makes it a multi-modal gateway to the UK’s agricultural, industrial and retail markets; Immingham is well served by road and coastal shipping links and generates over 25% of the UK’s rail freight. Agri-products have also been central to the port’s portfolio of trades. Grain, fertiliser and animal feed are handled at a number of terminals and significant recent investments in high quality storage facilities have enhanced the reputation of Immingham as the UK’s leading agribulk port. In 1999, ABP developed Immingham 2 Bulk Park; initially a 10,000m store designed to service value added requirements of the UK’s agricultural market. The complex, which was expanded in 2004, provides bagging and storage facilities adjacent to deep water within the Immingham Dock. Bulk storage has recently been increased with the development of 2 a further 9,600m of high quality warehousing within the site and a £1.3m refurbish programme of a number of existing sheds.
Immingham’s older sister, Grimsby, is a centre for trade vehicles, shipping over 400,000 cars per year both exported and imported via the port’s specialist car terminals. Fish still plays a major role in the port’s business - although much of the catch nowadays arrives in containers via Immingham. Grimsby is set to play a major role in the servicing of the many offshore wind farms that will be developed at the entrance to the Humber over the next ten years. Gleadell Agriculture have a short sea grain loading operation at the port’s eastern quays, shipping between 80/120,000 tonnes per year. Whilst volumes of virtually every trade through the port have been adversely affected by the global slow down over the past twelve months, the agricultural sector has bucked the trend with strong performances from fertiliser and grain exports. Commenting on ABP’s relationship with Gleadell, John Fitzgerald, Port Director Grimsby & Immingham said, “Gleadell has always been a strong partner of ABP and has demonstrated its commitment to the Port with a number of high level capital investments.
The increasing demand for imports of biomass to service electricity generation is requiring further warehouse development in Immingham both within the inner dock facility and at the port’s Humber International Terminal (HIT). Opened in 2000, HIT services the largest vessels capable of calling at Immingham. Two deep-sea berths are supported by a range of state of the art handling equipment handling over 11 million tonnes per year, predominantly, coal destined for the UK’s power stations.
Most recently the two companies signed a twenty-year deal to support the building of a new dedicated grain store facilitating both import and export of product across an adjacent deep-sea berth. This gives Gleadell the flexibility to tailor its shipping requirements to market demands. ABP’s £3.26m investment further demonstrates the company’s commitment to servicing the agricultural trade in this area”. The trade through Immingham is not restricted to grain, Gleadell have recently become one of Immingham’s major fertiliser customers and John Fitzgerald is optimistic this traffic will grow. “It is especially pleasing to see our business with Gleadell expanding into different products. Fertiliser is a business where we believe we add real value to the supply chain and I am delighted that Gleadell are working with us in this area. Personal relationships are strong at all levels within the two organisations and I look forward to strengthening the ties with David Sheppard and his team”.
“
Immingham is the UK’s largest port in tonnage terms, handling over 55 million tonnes in 2008
”
Gleadell GLEADELL AGRICULTURE
05
NEWS STORIES
FOCUS ON SEED “One of the messages we stress is that growing the best variety is only half the battle – the other half is making sure of the best market for the resulting crop. That is why we are pleased to
announce the milling wheat deal we have negotiated for the new RL candidate winter wheat variety, KWS Sterling. Also, we review the performance of some of the main varieties that are in the frame for 2010 sowing.” Stuart Shand, sales director
MILLING WHEAT DEAL FOR RL CANDIDATE Gleadell has secured a milling buy-back contract for a significant tonnage of the new winter wheat variety KWS Sterling. The agreement with a leading miller offers growers an attractive premium over feed for the potential Group 2 variety for a 12.5% protein, 250 Hagberg and 76kg/hl specific weight specification. It also includes a range of fall-backs, to ensure growers secure premiums commensurate with the quality they have produced. According to Gleadell’s sales director Stuart Shand, while it normally takes two to three years for a miller to nail their colours to the mast of a new variety, all parties have been following its progress for a couple of years.
“The contract is confidently introduced on the back of positive early commercial scale milling tests from a wide variety of farm crop and trial samples,” he points out. “This means that UK farmers can try a new, higher yielding wheat and grow it for a premium market at least one year ahead of normal at the same time as ensuring that the miller secures a significant quantity of the wheat for further tests in a range of grists. While KWS Sterling will not be considered for Recommended Listing until later this year, confidence in the newcomer has been boosted following its performance in Official Trials this harvest. At 102% of controls, KWS Sterling is the highest yielding Group 2 candidate variety, some 2% ahead of Cordiale and Einstein, performing on a par with Panorama. Agronomically, KWS Sterling is short and very stiff strawed, with good disease resistance ratings including a 9 for yellow rust. KWS trials suggest it may be a good second wheat.
KWS commercial director, Andrew Newby: “The buyback is a direct result of open and honest communication and testing along the supply chain. We increasingly recognise the need to release significant tonnages – in this case KWS Sterling - to the end-user in the final year of trial. By securing interest and buy-in at an early stage we can ensure a win-win situation for all in the industry from farmer to food supplier.”
VARIETY REVIEW FOR 2010 SOWING PULSES Wizard winter beans are still the buyers’ and growers’ number one choice, as is the spring bean market leader, Fuego. There are, however, now three challengers to Fuego: Pyramid, Fury and Atlas. All look very interesting but, ultimately, it will be the export buyer who will decide if they make the grade. Of the peas, Kabuki looks the safest bet with an excellent buyback and good grain qualities.
WINTER BARLEY AND SPRING BARLEY For the winter malting market Pearl, Flagon and Cassata are popular - but each maltster has his preferred variety. Check which one your local home prefers before planting. For the springs, NFC Tipple is still number one, but watch out for two new candidates - Concerto and Propino. Both are attracting great interest from distillers and maltsters. Of the two-row winter feed varieties, Retriever and candidate variety KWS Cassia are top of the list, both offering BaYMV resistance. Saffron and Carat are still popular. Volume is the top six-row performer.
WINTER WHEAT Gallant still has a good yield advantage over Solstice in the Group 1 category with a similar protein content to Solstice and a good Hagberg and specific weight - its yellow rust rating has fallen and a strong fungicide programme is necessary. Group 2 varieties are headed by Panorama. However, its protein is lower than some of the other varieties - but it does have stiff straw and, importantly, good yellow rust resistance. For the established varieties Cordiale, Ketchum, Einstein and Battalion still offer plenty of opportunities for the grower. For the Group 3s, Scout is just behind Robigus but it has very good disease resistance, is stiff-strawed and has good grain qualities - which will mean it is cheaper to grow. The new variety Invicta looks very interesting if it attains Group 3 status. Oakley is still top of the Group 4 tree, but will be removed from the HGCA Recommended List due to its yellow rust problems. Duxford and JB Diego are both very flexible first and second wheats. Grafton has its place in the early drilling slot, with good yield and stiff straw. Alchemy is still popular, as is Cassius and Viscount.
GLEADELL AGRICULTURE
07
FOCUS ON FERTILISER MARKET PROSPECTS
Fertiliser
FUTURE DEVELOPMENTS IMMINGHAM AND AVONMOUTH FACILITIES
ON A GOOD SOUND BASE OF RECOGNISED YARA AND ORIGIN PRODUCTS BUT, AS THE UK MARKET
Following last year’s collapse in prices, the continuing lack of confidence in the
THE GLEADELL FERTILISER BUSINESS IS BUILT
IS NOW RELIANT ON IMPORTED PRODUCTS, OUR
IMMINGHAM
DESIGNATED WAREHOUSE AND BAGGING
fertiliser market is now being further
FACILITIES AT AVONMOUTH AND IMMINGHAM HAVE
accentuated by low grain prices. Blenders, AVONMOUTH
merchants and importers are increasingly
CONTINUED TO AID OUR GROWTH NATIONALLY.
comfortable carrying only low stocks, and see little need to take positions on any fertiliser in what can still be described as being a very fragile market with risk aversion as the main focus. Autumn PK sales have been very hand to mouth and are running well below prioryear levels. Phosphate prices have looked attractive, and volumes have been taken up in areas where application last autumn was avoided and considered as not being costeffective. Potash prices, on the other hand, are still likely to fall further - so purchasing continues to be delayed, reflecting the cautious attitude of all buyers around the world. Volumes are unlikely to start to increase until at least spring 2010. Early Nitrogen sales at low prices were heavy in most areas as the UK manufacturers have been aggressive in recapturing market share lost during the last campaign. It has to be remembered, though, that they can only supply up to 60% of the total UK nitrogen requirement and with deliveries now running behind, imported product will have to feature at some stage. With higher cereal and OSR acreages planted this autumn, nitrogen volumes will increase. Recent figures suggest that the market will be tighter beyond October as North American and European buyers make their first moves to start replenishing stocks, a collapse in
Working with our shareholder, AC Toepfer International, Gleadell have worked to identify new imported products and sales opportunities and promote them into a difficult market which is still being led by cash flow restraints and risk aversion.
nitrogen prices is highly unlikely - so the product on offer today is, and should be, considered a good buy. Calum Findlay, fertiliser trader
06
Following an increase in the UK oilseed rape acreage this autumn, the demand for Sulphur products will be higher for spring 2010 application. A new product
to the UK - PIAMON Granular Compound 33N + 30 SO3 - is an ideal fertiliser to satisfy this increased demand. Manufactured and already recognised as a quality product in Germany, this is to be marketed exclusively through Gleadell. Our presence in the International market means that we hope this will be the first of many exciting products we can introduce and distribute from our two ideally situated facilities in the UK.
FOCUS ON GLEADELL
GLEADELL BUILDS FOR THE FUTURE ... … THE GLEADELL TEAM
…THE GREAT YARMOUTH GRAIN TERMINAL
As well as the infrastructure investment to service our expanding business, it is equally important that we invest in our people. This year, Rachel Kealey joins the Hemswell team as trainee farm trader along with Chris Guest and Erin Burns as trainee traders, and Yvette Kempson as retail coordinator. Our Midlands office at Lyndon sees Frances Bradley join as trainee farm trader, while Charlotte Woolliams joins the Swaffham team in Norfolk as trainee farm trader. And, in the southern office in Berwick St Leonard, Richard Clappison joins as trainee farm trader.
We are making a significant investment in the port of Great Yarmouth, Norfolk, where we will build a brand new state of the art drying and storage grain facility and invest in a new B&W fully mobile shiploader capable of loading vessels up to 25,000 mt. The facility, which adjoins the quay in the outer harbour, will be operational for harvest 2010. Our business in East Anglia has grown strongly over the past few years and building the Great Yarmouth Grain Terminal means we can expand our export and import business in the region in a deep water port. In 2008, we commissioned the grain storage and drying facility in Immingham and this has been a very successful investment, so we are looking to mirror the thriving long term grain import / export business we have in the ports of Grimsby and Immingham at Great Yarmouth to provide farmers throughout the East Anglian region with valuable markets for their produce in the future. Also our Great Yarmouth Grain Terminal will be located at an end user destination and will therefore avoid the double haulage incurred in all central stores.
… IN YORKSHIRE … IN THE NORTH-WEST ... AT IMMINGHAM … IN LINCOLNSHIRE
We also believe that our flour milling customers and maize consumers in the region will find the facility well positioned for the import and storage of high quality milling wheat and maize.
… IN EAST ANGLIA
… IN THE MIDLANDS
… AT AVONMOUTH
… IN THE SOUTH
www.gleadell.co.uk DISCLAIMER: Prices quoted are indicative only at the time of going to press and subject to location and quality. Gleadell Agriculture cannot accept liability arising from errors or omissions in this publication.
HEAD OFFICE Lindsey House, Hemswell Cliff, Gainsborough, Lincolnshire DN21 5TH
T 01427 421200 F 01427 421230 YORKSHIRE OFFICE
EAST ANGLIA OFFICE
MIDLANDS OFFICE
SOUTHERN OFFICE
The Airfield, Full Sutton, York YO41 1HS
Beacon House, Turbine Way, Swaffham, Norfolk PE37 7HT
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The Old Granary, Berwick Courtyard, Berwick St Leonard, Nr Salisbury, Wiltshire SP3 5UA
T 01759 375660 F 01759 375661
T 01760 726510 F 01760 726520
T 01572 737165 F 01572 737145
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Gleadell Agriculture Limited
www.gleadell.co.uk