Feed market update - 17 July 2014
In the UK the downward price trend for feed wheat has continued throughout the past week and global oilseed prices remain in their downward trend with strong supply forecasts for 2014 acting as the focus.
In the UK the downward price trend for feed wheat has continued throughout the past week and prices closed at another new contract low of £128.80/t on Tuesday (15 July), down £4.20/t on the previous week. Dec-14 Chicago wheat prices also hit a new contract low on Friday (11 July), at $201.24/t, falling $12.04/t since the beginning of last week. Prices settled up slightly by this Tuesday at $206.11/t. Similarly, Nov-14 Chicago maize futures also hit a contract low last Friday, at $151.48/t, and since edged back further settling at $150.29/t by Tuesday’s close. The even more favourable global cereal supplies situation continues to reduce prices.
Global oilseed prices remain in their downward trend with strong supply forecasts for 2014 acting as the focus. Paris Nov-14 rapeseed futures traded below the €330/t level for the first time on Friday, but have since recovered slightly closing at €330.25/t on Tuesday, down €8.75/t on the previous week. Prices for Chicago soyabeans closed on Tuesday at $399.09/t, down $11.02/t from the previous week. UK Hi-Pro soyameal prices (ex-store, east-coast) were £315/t as at 11 July, down £14/t from the previous week. UK rapemeal prices (34%, ex-mill, Erith, July delivery) also declined, by £4/t, over the week and prices closed on Friday at £180/t.
The annual AHDB/HGCA Planting and Variety Survey was published last week. Read more atwww.hgca.com/markets.