Farmers are being offered £169/t ex-farm for malting barley contracts.

This is the highest price paid to Scottish farmers for years, although few can take up the offer, as the vast majority of crops are already in contracts.

The price is made up of £149/t barley price plus £20 for the contract, making a total per ton of £169.

The price spike is being put down to a deflated pound and the hot weather in the USA talking down yields.

Feeding wheat is being quoted as £140/t in Aberdeenshire and £148/t in Edinburgh ex-farm, based on the November future market.

Similarly, feed barely is being quoted as £125/t ex-farm.

Oilseed rape’s spot price is currently above £300/t ex farm.