The figures in the charts are an indication only and reflect levels traded on Wednesday.
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A mostly uneventful week on prices.
Nearby availability remains tight as shippers await boats in late March and into April, though some are sold out until summer shipments come in May.
As with other commodities, the re-ignition of tariff trade wars with Canada, Mexico and China is putting pressure on Chicago futures.
China have already retaliated with tariffs on US agricultural products, which includes 10% on maize – this is pressuring US prices, but has then provided more support to South American prices.
Weather in South America has been reasonable and Brazil are now 48.4% complete on their harvest from 36.4% last week.
Argentina are normally harvesting in April, so there’s a bit of time there, but the hopes are that the crop has been secured with the recent rains.
With the US announcing 25% tariffs on all Canadian imports, that raises the question as to whether Canadian canola will find it’s way in to the UK & EU markets for the remainder of the season.
This should put pressure on home crushed material to compete against the imported GM rapemeal to some degree.
Crushers have been reluctant to offer more tempting prices, so old crop is still looking expensive against soya.
New crop is looking a bit better, though the premium for Feb/Apr 26 looks dear, but an option to lock in protein cover beyond the end of the year if needed.
The nearby market remains very tight until new crop is reached in May and summer levels still seem to be staying steady as a result of the lack of availability nearby.
Much the same story, with limited availability nearby on all distillers.
Vivergo remains offline for now, causing more pressure on Ensus availability, but they are producing.
Imported wheat distillers are non-existent for now and summer material is expensive and limited to Scotland for the most part.
Imported maize distillers are tight nearby but this should ease as summer approaches, with prices looking more reasonable.
Availability is very limited with no home produced or imported being offered and only imported offered for late in the summer, though those prices are not dissimilar to pre-withdrawal British sugarbeet prices.
Wheat markets eased back over the last week, as reports came in from both the US 7 Russia that crops had withstood cold weather without significant damage and also as markets reacted to re-ignited concerns around tariff wars.
China has retaliated with a 15% tariff on US wheat, which brings further pressure to the US markets at least.
London wheat futures managed to break out of the trading range that’s been seen for many weeks, but sellers may well shut up shop with the lower prices.
And finally, totally irrelevant but quite interesting facts of the week…….
The UK food supply chain means we are only ever nine meals away from empty supermarket shelves and when Frinton-on-Sea, Essex, got its first pub in 2000, locals described it as the worst thing to hit the town since the Luftwaffe.
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 05/03/25 (£/t)
'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $
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