The figures in the charts are an indication only and reflect levels traded on Wednesday.
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Prices nearby have firmed as stocks start to tighten across the UK, with the next shipments (which are already well sold) due Mar/Apr time.
Summer levels remain at similar prices. Looking good value against other protein options.
Brazil has been able to make decent headway with their harvest,, reaching 39% complete by the 20th Feb (vs 23% the week before and 40% last year) and with some good weather forecasts, should be able to continue this progress.
The rains seen in Argentina should have helped some of the later planted crops regain some yield potential, but will have come too late for some of the earlier planted crops.
Prices remain rangebound seemingly, with minimal trading on the Nov/Apr period on Matif futures.
Supply remains tight until Mar/Apr, with imported product having sold well as an alternative to Erith (for supply reasons) and Liverpool (for price reasons).
There is still material around for the coming months, but logistics are likely to dominate those months.
The nearby market is still very tight with minimal product available until Apr/May.
Summer prices are obviously trading at a discount to spot (when you can get a price), but they have been dragged upwards by the supply issues nearby.
Better offers may be seen once supply eases as summer approaches.
The market remains dominated by lack of supply, especially nearby.
Home produced product remains tight, with ongoing maintenance at both Ensus and Vivergo.
Imported has sold out nearby in most ports, due to tightness of home produced material – and the next shipments are still a number of weeks away.
Summer prices on maize distillers look reasonable against other options, with wheat distillers in continued short supply for the summer and so commanding a larger premium.
US ethanol plants remain in negative margins, but production and demand remains good.
The market is unchanged, with no signs of a home-produced offer (looking increasingly unlikely).
Imported material is still available from some ports, with prices still looking dear against soya hulls and slightly increased on where they have been in previous months.
Wheat markets eased off a bit, as warmer weather came through in the US forecasts, (though this could reduce the limited amount of snow cover they have and so increase the winterkill risk again if another cold snap is seen).
Russia remains colder, but the markets seem to have priced this in.
Supply in the UK seems slow, with growers staying out of the market unless they need to sell, as the prices are not great for them.
Though UK prices are capped still by imported prices.
And finally, totally irrelevant but quite interesting facts of the week…….
NBA star Manute Bol was 7’7” tall, but his passport said he was 5’2” because he was measured sitting down and 40 million years ago a meteorite hit Canada, raising the temperature to a record-breaking 2,370 deg C.
Notes:
All figures in this report are provided by KW and commentary by GLW Feeds. 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
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Spot Price Trends 01/01/21 to 26/02/25 (£/t)
'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $
Currency Trends as of 26/02/2025. Blue = GBP:USD. Red = GBP:EUR
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