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Weekly Straights Update: 27th June 2024




The figures in the charts are an indication only and reflect levels traded on Wednesday.

Click on a product name for more information


  • The Brazilian crop is now complete with Argentina following closely behind on 99%.

  • So far Argentina’s crop size estimates are well above last years, with farmers now being more willing to sell.

  • Logistical issues continue to plague the market with asa July boats not expected to arrive until the very end of the month.

  • US crop plantings are above the 5 year average with early estimates of 1.20mt, but far too early to call.

  • The US season has not yet come into effect, so there is limited impact and differing weather reports for the country means it’s one to watch.

  • Flooding in Mississippi is restricting bean exports.

 

  • Not much change week on week with continuing pressure to move more tonnes in July and Aug/Oct due to surplus European material.

  • Levels for Nov/Jan are not looking overly attractive with a 15 euro spread ex-Liverpool and there is still being a carry from Feb/Apr.

  • The US weather isn’t awful so the market seems to have settled.

  • If there are no more weather issues, it’s likely to keep drifting downwards.


  • The market has been firming due to delayed logistics and a lack of crushing which is a result of poor bean availability.


  • Domestic producers are running well with favourable ethanol margins.

  • There is a possibility once the market has cooled for levels to soften, with harvest pressure and anticipated storage issues for new crop also potentially helping to ease the market.

  • Aug/Oct run looks well priced, however this bearish outlook could help bring back nearby levels further.


  • Largely there is no change week on week with market levels making it better value to ship to non-UK destinations.

  • The market remains very stagnant with shippers reporting that order-flow has been dead for around 6 weeks.

  • Still plenty of home produced material around, but this continues to look expensive vs hulls as a fibre source.


  • Global wheat markets have been pressured as the US winter wheat harvest shows strong pace at 40% complete, up 19% from this time last year and 15% from the 5 year average.

  • In addition, whilst recent yield data in Russia is not totally indicative of the whole wheat crop, initial yields have been high and are said to have lowered Russian wheat export prices.

  • With this in mind, there is currently no obvious upsides, with levels having fallen more than increased over the last 7 days.


And finally, totally irrelevant but quite interesting facts of the week…….

In 2014, a panda called Ai Hin pretended to be pregnant to get her own room and more buns and if Sweden plays Denmark, it’s abbreviated to SWE-DEN, the remaining letters spell DEN-MARK.



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


Livestock Straights Feed Prices


 

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 26/06/2024 (£/t)

  • 'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $





 

Currency Trends as of 26/06/2024. Blue = GBP:USD. Red = GBP:EUR




 

Applications and Data Analytics for Orion developed by Demand Economics Ltd.


 

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