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Weekly Straights Update

Lifton Mill - Tel: 01566 780261 / 0845 6027321* | Hungerford - Tel: 01488 684155 | Carmarthen - Tel: 01267 223716  | Email - [email protected] | Somerford - Tel: 01260 282500
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Straights Update

Please call your local trading office

Lifton 01566 780261           
Carmarthen 01267 223716                     
Somerford 01260 282500
Hungerford 01488 684155
 

14th April 2021

Coronavirus update: Whilst at the moment the feed supply chain has not been impacted in terms of raw material availability, we need to be aware of the potential situations that could occur – e.g. ports or hauliers coming under pressure if drivers/dock workers are required to self-isolate. We are therefore asking for plenty of notice regarding your orders to help manage supply going forwards. The trading team will continue to keep you updated going forward.

Currency

£/$1.375

£/€1.151

 

**FATS OFFER – WE ARE HOLDING PRICES FOR MEGALAC AND BUTTERFAT EXTRA FOR MARCH AND APRIL, CALL NOW TO SECURE YOUR TONNAGE (LIMITED TONNAGE AVAILABLE)**

High Proteins

Hipro soya – Tighter nearby markets in some ports as shippers await May boats. Prices have been relatively steady as Chinese demand remains questionable due to ASF. Supply/demand picture still looks to be tight, and any weather issues in the US could push market much higher, while downside is quite limited by comparison – means cover might be a better option for the summer.

Rapemeal – Poorer currency against the Euro has kept rapemeal prices a little higher. Crushers are going full pelt currently when normally they would have some downtime, as the rapeseed oil price is good. This won’t help seed prices/availability; though we could see a little more weakening of old crop prices, with August still at a large discount. Need to bear in mind, that we could see a spot premium roll from April to May though. Prices still look good for Aug/Apr against other proteins. If soya comes down, rapemeal doesn’t need to drop to still compete, but if soya goes up, rapemeal will follow.

 

Mid Proteins

Glutens – Wheat gluten remains very tight with shippers finding it difficult to get plants to supply the volumes they have committed to.  Maize gluten levels remain unchanged overall.

Distillers – US ethanol margins remain good, but tighter maize plantings balance this. If market continues as it, prices could drift lower. Nearby availability on both maize and wheat distillers is very difficult, as consumers don’t want to buy and shippers are unwilling to commit to shipments with no sales on the books.

 

Energies

Wheat/barley – Drier weather in the US has pushed wheat prices up recently, though crops in UK and Russia still good. UK barley is no longer competitive for export, though availability in certain regions remains difficult.

Maize – Prices do remain expensive against wheat, but we need to watch what China buy as questions remain over how bad ASF has hit them. On the other hand, any weather issues could push support prices.

 

Fibres

Soya hulls – Crushing remains high with good soya oil values. Prices though are very competitive against sugarbeet so cover should be considered.

Sugarbeet – Shippers are unwilling to bring in additional boats of sugarbeet as there isn’t the sales to support; Europeans crops are being reduced so downside seems limited.

 

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Southern Port Guide Prices

Please call your local trading office for an accurate quotation as these are guides only and may vary in your region. Any opinions expressed are subject to change without notice.

 

Price changes since 7th April  2021

 

14th April 2021

April 21

May-Oct 21

Nov-Apr ‘22

Hipro Soya

352 -5

asa351 -3

asa359 0

­­­­­­­­­­­­­­Rapemeal

Ex South Coast

POA

asaAug 221 +1

224 +1

Rapemeal

Ex Erith

250 0

222 0

211 +1

Soya Hulls

174 -20

asa162 -2

168 -2

Sugar Beet

222 +2

219 -5

176 0

Maize Distillers

POA

asa253 0

243 -7

Wheat Gluten

POA

asaJun 192 -4

182 0

Maize Gluten

243 0

asa226 +2

229 0

Whole Maize

224 0

224 +1

200 +2 Plus £10 ground

Wheat Distillers

POA

asa261 -4

244 0

Palm Kernel Exp

POA

asa181 -1

176 -3