For the Future of Farming

Commodity Market Report 19th February 2020

Currency

  • Sterling rose and then dipped against the dollar this week but has ended up virtually at the same point as last week. The pound has increased against the Euro this week going from 1.1850 to 1.20. This is the highest rate we have seen in the last year.
  • See below chart Pound / Dollar this month.
Commodity Report - Currency Graph

Soya

  • Spot prices are up slightly this week and nearby prices are still at a premium as shippers await new stocks arriving into various stores around the country.
  • Argentinian farmers are still holding onto their beans which is keeping stocks short.
  • Currently no weather concerns in South America, although heavy rain in some parts of Brazil is causing delays. Brazilian harvest is running behind at 21% compared to 36% last year. 
  • There are also delays at Brazilian port loading the beans causing nearby shortages.
  • The Fund buyers hold a short position and when China start buying US beans again following the phase 1 agreement with the U.S, we could see prices rise.
  • If you haven’t covered your summer requirements yet, please ring us for delivered prices.

Rapemeal

  • New crop Rape prices are down this week. There has been a lot of cover taken over the last week, so if you still have to buy your rapemeal for the autumn and next winter, give us a call.

Distillers and Maize Gluten

  • Corn distillers – price for May/Aug is down this week. There has been a lot of cover taken so ring us if you are looking for prices.
  • We can also offer prices for a wheat/maize distillers product. Ring for details.
  • Gluten values are unchanged this week and have one price for now through to Apr 2021.

Fibres

  • Soya hulls prices are mainly unchanged this week. We won’t see lower prices until new shipments start to arrive in June when South American soya beans arrive.
  • Imported sugarbeet available from Avonmouth and Liverpool for Feb/Apr. Home produced product is now available again but in limited volumes. Please call if you have any interest through until August.

Grain, Maize, Wheatfeed, Biscuit meals and Bread

  • Wheat futures rose this week. Drought in Australia has reduced their wheat crop to 15.20 million tonnes, the lowest since 2008. Also reports today of swarms of locusts in Africa moving through to India and Pakistan.
  • There is optimism the China will buy more U.S grain following the phase 1 agreement.
  • Storm Dennis has caused flooding over many areas of the UK and this isn’t going to help crops already sown and prevent further planting for some time.
  • Biscuit meal prices are up slightly this week.
  • Maize prices are unchanged this week. Ring us for prices for whole or ground maize. Looking good value against current wheat prices.
  • Wheatfeed prices are mainly unchanged. Pellets available, with meal in short supply. 
  • See below wheat futures graph for May and November

 

wheat futures graph for May and November

Moist Blends

  • We have moist blends available. Selcoplus in the North and Amyplus in the South.
  • AmyPlus/Selcoplus are performance moist feeds, butritionally rich in energy and protein and ideal for driving intakes.
  • The appealing fresh aroma and higher dry matter make either a valuable component for your Dairy, Beef or Sheep rations.
  • We have always had positive feedback from previous and existing customers.
  • We can currently offer delivery on artic or rigid and also offer fixed prices for forward contracts.

Maize Seed

  • Utilising maize adds starch to the diet. Growing an early maturing variety will enable sowing of a follow on crop for example grass or cereals. 
  • Wholecrop offers an alternative forage option and adds some fibre to the mix. With an early harvest it allows the sowing of a catch crop which can then be followed by a cereal crop.

Fertiliser

  • The market has stalled both orders & prices due to current UK weather conditions
  • AN & ANS grades whether UK or imported prices have flatten out  
  • Blenders still have stock to sell so prices still very competitive
  • Both Yara & CF are carrying over their February prices into March 
  • February is getting full for deliveries soon all supplier will move to March delivery end of this week 
  • There are concerns now that the wet weather will mean crops don’t get planted and fertiliser volumes will be down 10% this season  
     

Market Prices 19/02/20

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

Weekly Trend

  • £/$ 1.30 - Sterling unchanged
  • £/Euro 1.2036 - Sterling higher
     
Rapeseed Meal Ex Erith Ex Liverpool
Feb / Apr 194 POA
May / Jul 193 203
Aug / Oct 178 187
Nov / Jan 185 193
     
Hipro Soya Ex Portbury Ex Liverpool
Feb 308 302
Mar / Apr 303/298 299
May / Oct 291 290
Nov / Apr 296 295
     
Soya Hulls Ex Portbury Ex Liverpool
Feb / Apr 178 175
May / Oct 158 159
Nov / Apr 163 163
     
Whole Maize Ex Portbury Ex Liverpool
Feb / Mar 173 173
Apr 175 175
May / Aug 177 177
     
Wheatfeed Pellets (Midlands)  
Feb / Apr 147/144  
May / Sep 130  
Oct / Apr 139  
     
Imp Sugarbeet Ex Portbury Ex Humber
Feb / Apr 182 Sold Out
May / Oct 188 Sold Out
     
Maize Destillers Ex Portbury Ex Liverpool
Feb / Apr 206 200
May / Aug 193 193
     
London Wheat Futures   Weekly Trend
Mar '20 150.95 Up
May '20 154.15 Up
Jul '20 155.80 Up
Nov '20 162.80 Up
Jan '21 164.10 Up
Mar '21 167.05 Up
May '21 167.60 Up
Jul '21 158.15 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.