The figures in the charts are an indication only and reflect levels traded on Wednesday.
​
​Click on a product name for more information
The market is anticipating more from the USDA however they are looking for more measured increases in yield.
The current market expectations are where the yields are likely to land.
Hot and dry weather in Brazil can increase the protein level of beans which will offset some of the yield decline.
They can plant up to the end of November without any significant derogation to quality, so they have time to get the seed in the ground.
Currently on the watch for a catalyst which may firm the market.
Â
Tight in supply on the continent due to EUDR coming into play, there has been a switch from soya to rapemeal due to the new legislation.
The UK market is likely to tighten on the nearby due to the issues at Erith this week.
ADM Erith haven’t been sellers until November for a little while which may cause other ports to look more competitive if Erith aren’t pricing as aggressively.
Nothing suggesting rapemeal will ease back before May.
Availability on soya hulls remains tight with the Argentinian crush having been disappointing.
Argentinian material is still cheaper than the US with around a $20/T premium.
Currently no downside to be seen with hulls overall looking a good value fibre source.
Market is firming off the back of poor weather in the US, causing lower Mississippi river levels.
Whilst there have been hurricane issues in the US gulf causing line up delays for exports.
Ethanol margins are positive, but the forward curve is inverted and margins have been squeezed, with ethanol prices falling whilst CBOT corn has been rising.
Sugarbeet remains static with absolutely no new news.
The markets seems to be pretty much a closed loop between British Sugar and the consumer, with home-produced material satisfying domestic demand.
Small quantities of imported material are still available, however once this is gone there is no plan to replace.
On Friday wheat markets edged lower after the USDA unexpectedly raised its projection for global wheat stocks.
Global wheat markets edged lower yesterday, after gaining last week on the back of worries about global supplies and access to Black Sea grain.
News over the weekend didn’t point to a further escalation in the conflict, though the worry over crop sizes limited falls.
Statistics in Canada made small reductions to its wheat crop figures, but slight increases for barley and oats.
​And finally, totally irrelevant but quite interesting facts of the week…….
The first Glastonbury tickets cost £1 and came with a free bottle of milk the population of Bangladesh is 114% the size of Russia’s, crammed into an area 115 times smaller.
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 18/09/2024 (£/t)
​'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $
Currency Trends as of 18/09/2024. Blue = GBP:USD. Red = GBP:EUR
Applications and Data Analytics for Orion developed by Demand Economics Ltd.
Comments