Commodity Market Report 13th January 2021

Soya

• Last week’s market concern over tight ending stocks for the 2020-21 season were confirmed in last night’s USDA report.
• The report highlighted substantial cuts to the U.S. and world ending stocks for soya, corn and wheat.
• In addition to this, the aggressive pull that China’s soybean purchases have exerted in the soybean marketing chain this year can be seen by on-farm soybean stocks as of the 1st December reaching a five-year low with just 44.6% of stocks remaining on farms last month.

Rapemeal

• With the global oilseed market firm, the tightness in rapeseed markets this season and support in oil markets continues to push rapeseed values higher.
• Here in the UK rapeseed prices hit season highs last week. Investors turned attentions from the EU/UK trade deal and focused on the escalating Covid-19 cases and renewed lockdowns and the knock on effect these restrictions pose.
• Please contact us for prices.

Distillers

• Distillers prices see gains in line with the other proteins post bullish USDA report.
• Spot prices ex Portbury see an increase by some £15/t.
• Contact us for prices.

Alternative protein sources

• As protein prices remain high it might be worth considering adding a high protein molasses into your animal diets.
• For those who already have urea in their diet, we also have non-urea based high-protein molasses.
• Please contact us for specs and prices.
• Tanks are available with IFC options.

Fibres

• Soya hull prices remain supported. The Argentine crop is heading into the pod setting stage and is doing so in poor condition.
• Buenos Aires Grain Exchange (BAGE) reported that only 27% of Argentina’s soybean crop is rated good/excellent, down from 42% last week and 52% last year.
• Imported sugarbeet prices rise by £3/t vs last week.
• Please contact us for prices.

Grain, maize, wheatfeed, biscuit meals and bread

• Prices are firmer after yesterday’s USDA report recorded reductions in U.S. corn and wheat ending stocks were greater than expected.
• USDA cut both their U.S. corn crop estimate by some 300 million bushels and their December 1st corn stocks by 600+ million bushels of which 300 was caused by the lower crop.
• UK wheat at its highest price since March 2013 and new crop at its highest price at this stage since January 2013.

Moist co-products

• Do you have a shortfall in forage? Consider caustic wheat today.
• It's a high alkaline product, helps maintains rumen health and works well with acidic silages and low PH feeds.
• Casutic wheat reduces acid loading in the rumen which in turn leads to increased milk yield and quality in dairy cows and increased live weight gain and feed conversion in beef cattle.
• Contact us to find out more details.

Forage

Maize

• Reserve your maize seed for 2021 to secure your required variety.
• Looking to open the clamp early? P7034 Dent hybrid produces large volumes of degradable starch for early feed out.

Additive

• Losses are avoidable if silage is stored, clamped and managed correctly to prevent aerobic spoilage.
• Place a silage additive order now for delivery in 2021 to receive the best terms.
• Book 10 x ecosyl 100 and get extra 1 FOC.
• Book 10 x Sil all 4x4 and get extra 1 FOC.
• Have you considered Pioneer 11G22 for early clamp opening?
• Book a new additive order with ForFarmers and receive a free additive shaker bottle

Grass

• Have you got your sward stick read for early spring grazing? Order a complimentary grass sward stick today

Market prices 13/01/21

All prices Ex Port, subject to change without notice, please ring for quotes.
 

Weekly Trend

• £/$ 1.36520 - Sterling higher
• £/Euro 1.12166 - Up
   

Red = Price Firmer
Green = Price Lower
Black = Price Same

The information contained herein is taken from sources we believe reliable, ForFarmers does not guarantee that it is accurate or complete and should be used for information purposes only. Market comments are the opinion of the author, and are not capable nor intended to create any legally binding obligations on either party.