Commodity Market Report 29th July 2020

Soya

• Market tensions are rising as the former U.S. consulate in Chengdu was closed on Monday. 
• A Coronavirus outbreak was reported at a crushing plant in Argentina.
• Brazil's soyabean exports are down 34% for July.
• Both Brazil and Argentina are holding onto stocks and are hoping for prices to increase in the second half of 2020.

Rapemeal

• Stocks remain £4/T cheaper Ex Hull.
• Erith are still experiencing delivery problems due to the recent fire.
• Disappointing yield reports have been announced for Southern England.
• Prices have remained fairly stable all week.

Distillers

• Corn is looking stable at £193 Ex various ports for July - April 2021.
• Please contact us for prices.

Fibres

• Prices continue to climb gradually for short and long term soya hulls.
• Hulls are still looking better value than sugarbeet.
• Imported sugarbeet is also firmer at around £185 on average Ex various ports Nov - Apr 2021.
• There is a limited amount of home produced sugarbeet available. Please contact us for prices.

Grain, Maize, Wheatfeed, Biscuit meals and Bread

• U.S wheat prices have eased back $5/T.
• The U.S winter wheat harvest is now 74% complete.
• Maize prices remain stable and this has been supported by increased demand from China.
• Exports of barley are commencing.

Forage report

Grass

• Using new improved varieties can give 33% more yield than a typical five year ley. DM yields will also be higher.
• Reseeding can produce over £500/acre potential in extra milk production.
• Have you reviewed the productivity and quality of your leys? Which would benefit from reseeding? Find out more about TOPGRASS here. 

Additive

• Do you have enough additive in stock for your later grass cuts?
• Reduce dry matter losses, heating and waste.
• Improve milk production or liveweight gain by using an additive.

Root crops

• Mixed forage diets also help increase intakes and ensure optimum rumen stability, improved feed utilisation and animal persformance.
• Need some additional forage for winter keep? Find out more about root crops here.

To find out more about maximising your forage or for prices please contact our Forage team here.
 

Fertiliser

• Ammonium nitrate prices are rising with European 33.5% product increasing €2/T on July for August movement.
• Brazilian markets are active and manufacturers are seeking to achieve higher FOB values to all destinations.
• CF Fertilisers terms will be withdrawn on Friday and new terms for August are expected to reflect global sentiment.
• UK PK markets are active and rising demand has rallied prices on certain products as old stock is depleted. This trend is expected to continue as land is cleared. Importers are now entering new PK stocks bought at higher global prices.
• Indian demand is adding support and growing conditions have been exceptional this year and subsidised farmer buying is increasing demand.
• Liquid UAN markets are currently stable, but rising urea and AN markets could affect autumn and spring prices in the UK. Potential tariffs for 2021 could result in significant increases in spring fill values as application time approaches.

Market Prices 29/07/20

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

Weekly Trend

• £/$ 1.29706 - Higher
• £/Euro 1.10406 - Higher
   

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.