The figures in the charts are an indication only and reflect levels traded on Wednesday.
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​Click on a product name for more information
The market reacted to the Argentinian strike over the last 48 hours, however these have since been lifted and the market has settled.
That being said the situation remains unstable as the possibility of future strikes have not been ruled out.
ASA May shipments remained delayed, with no current estimated arrival times.
Premiums in Argentina remain firm due to a lack of crushing, which is helping to maintain elevated levels on the nearby.
These nearby levels for May/Jun are anticipated to remain due to supply issues.
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Week on week a very similar story.
Nearby material is difficult to come by and overall still looks to be an expensive protein option when compared to soya.
Funds have been buying oil beans which has pushed the market up, however there is no real reason for it to be firmer, so levels should start to ease once the new crop becomes available.
The recent Argentinian strikes have caused an increase in market levels with limited supply and limited material ex Portbury, however material is less tight at other ports.
Hulls remain the most competitive fibre source available, regardless of what seems to be firming the market.
Domestics distillers are thin on the ground nearby, with Ensus broken down and Vivergo unavailable until late May.
Distillers are expected to remain over-valued until the rapemeal market settles and May’s soya shipments arrive.
Nearby imported material is tight with shippers sending material to other destinations, where it can reach the premiums they desire.
That being said not much trade has happened week on week leaving the market very flat.
Sugarbeet continues to remain an expensive fibre source and struggles to feature in the ration.
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Weather in Russia seems to be playing a big part in the outlook of the global wheat market.
Rain has been forecast in key Russian crop producing regions, providing some easing to supply worries. One to watch.
​And finally, totally irrelevant but quite interesting facts of the week…….
Mars is more accurately mapped than Alaska and thanks to the US military, the most accurately mapped country in the world is Afghanistan.
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
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Spot Price Trends 01/01/21 to 01/05/2024 (£/t)
​'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $
Currency Trends as of 01/05/2024. Blue = GBP:USD. Red = GBP:EUR
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