The figures in the charts are an indication only and reflect levels traded on Wednesday.
Click on a product name for more information
The US harvest is progressing well with yields looking good so far.
Plantings in Brazil and Argentina are still delayed, but as anticipated they are catching up.
Demand for meal is good with lots of vessels booked to arrive into the UK pre-Christmas, with plans to stockpile material ready for Q1 2025.
Any further downside currently looks to be limited, with any bearish news having already been factored into the market.
There is currently a tricky logistical period at the moment, with short term pressure around due to many people buying elsewhere when Erith was having issues, but with it now up and running, prices on the nearby are easing off nicely.
Rapemeal still has a long way to go to be competitive against other mid-proteins going forward.
It’s not expected to be the most competitive this year, however, with soya easing back, that will keep a lid on prices.
Nearby the market remains firm with no liquidity coming out of Argentina.
This should get better with the EUDR regulations being delayed another 12 months.
Q1/Q2 next year should see the Argentinian crushes ramp up and prices start to ease.
Currently demand is still fairly poor with end users waiting for a better day.
The distillers market is tight on the nearby due to availability of raw material here in the UK, however this should ease going into the winter.
There is an underlying worry over European material containing high levels of mycotoxins.
This should not be an issue in the UK as most material is imported from the US, but worth bearing in mind should something happen to the US supply.
British grown sugarbeet is still available with molassed and non-molassed options.
Shippers still not importing any significant amount of material, as British Sugar continues to meet domestic demand.
The spread between sugarbeet and soya hulls does seem to have narrowed, however sugarbeet remains the more expensive choice when looking at cost per unit of fibre.
Prices have been supported in previous weeks due to bad weather in Russia and the Ukraine and delayed maize harvest in France, however both have come back off the recent pace that has been seen over the last couple of days.
This is mainly due to maize being very competitive.
Barley didn’t follow wheat up as much, so the spread between the two has widened.
Availability for October is starting to tighten slightly but November forward looks good.
The UK harvest is expected to be 2.9MMT down from the 2023 harvest, thus a heavier reliance on imports.
And finally, totally irrelevant but quite interesting facts of the week…….
In the 1870s, North America had 144 official time zones and in the time it takes to say ‘one hundred and thirty’ your vocal chords open and close 130 times.
Notes:
All data in this report are provided by KW. Price indications are based on 29t bulk tipped loads delivered to Oxfordshire and are guide prices only.
For firm prices and availability, please contact Joe Cobb on 01865 393 139
Historical Product Prices
You can look back at previous product prices here
Use the filters below to select the Product and the Date
Spot Price Trends 01/01/21 to 23/10/2024 (£/t)
'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $
Currency Trends as of 23/10/2024. Blue = GBP:USD. Red = GBP:EUR
Applications and Data Analytics for Orion developed by Demand Economics Ltd.
Comments