According to independently collected HGCA data, the benchmark price for bread wheat delivered to Liverpool was £113.50/tonne on 17 January compared with £114.00 on 20 October - in either case, £30 per tonne up on last year.
No miller is going to risk running out of wheat by not taking forward cover.
Therefore, the evidence is plain - millers' flour costs will be up substantially year-on-year.
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