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Weekly Straights Update: 4th April 2024




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

Click on a product name for more information


  • A flat USDA report last Thursday provided very little fuel for the market to rally, soya acreage was left unchanged in the US and weather conditions are favourable, particularly in the Eastern corn belt.

  • Premiums in South America have eased as Argentinian farmers are selling more beans.

  • Delays in loading vessels remain at 5-8 days which are keeping nearby prices firm.

  • Harvest is progressing well in South America and soon attention will turn to the US crop.

  • Funds continue to hold big shorts in these markets.

 

  • Nearby lack of material means spot levels are at a premium.

  • The May – Jul period remains hard to call, lack of supply and annual shutdowns could mean the  premiums roll on for a while, however it’s tricky to forecast demand in this period.

  • Prices will need to ease for the summer/winter to compete against soya, but new crop crushers should be increasing output which could help with prices.


  • Soya hulls remain the cheapest commodity on the market, despite firming a little last week.

  • Compared to sugarbeet they continue to offer excellent value, although demand is not high and shippers look to find homes in other destinations.

  • Little downside is expected in the nearby until new crop vessels land in May.


  • The distillers market has followed rape upwards and whilst they aren’t overly competitive against other protein sources, demand seems to be matching supply.

  • The  UK distillers supply isn’t as plentiful as it was, particularly in the nearby.


  • Levels remain high for the summer particularly when compared to soya hulls.

  • Shippers aren’t looking to import anything for the summer due to lack of demand.

  • There is still plenty of British material available, if people are willing to pay the price.

 

  • Wheat markets firmed at the end of last week, a combination of the bank holiday weekend and some profit taking at the end of the month.

  • Thursday’s USDA report pegged the US crop at a 5 year high, with weather conditions favourable across the corn belt.

  • UK markets have eased a little despite the continuing wet conditions hampering plantings.



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

On 24th March 2015, the temperature in Antarctica was higher than in Madrid, Malta and Marrakesh and  in 1995, Nelson Mandela was voted Santa Claus of the Year by the children of Greenland.



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 03/04/2024 (£/t)

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





 

Currency Trends as of 03/04/2024. Blue = GBP:USD. Red = GBP:EUR




 

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


 

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