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Bethan Wilkins

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AHDB Pork Market Intelligence

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Feed market update - 23 July 2014

Home \ Prices & Stats \ News \ 2014 \ July \ Feed market update - 23 July 2014

Favourable growing conditions and strong supply prospects for new season crops have continued to exert downward price pressure on grains throughout the last week. The oilseed complex has also been influenced by bearish factors throughout the last week, with favourable weather and strong supply prospects putting pressure on prices.

Favourable growing conditions and strong supply prospects for new season crops have continued to exert downward price pressure on grains throughout the last week. Nov-14 UK feed wheat futures closed at £127.65/t on Tuesday, down £1.15 on the previous week but up from the contract low of £127.05/t which was set on Monday. The headlines from Ukraine towards the end of last week provided some support to prices but this was only temporary and prices have been forced lower again as supply fundamentals outweigh any concerns over disruptions to grain exports from the region. Chicago maize nearby futures prices are currently the lowest in 4 years and the fall in global maize prices has led the EU Commission to reinstate import duties, which have been set at zero for four years.

The oilseed complex has also been influenced by bearish factors throughout the last week, with favourable weather and strong supply prospects putting pressure on prices. Paris rapeseed futures (Nov-14) closed at €322.25/t on Tuesday, a week-on-week decline of €8 but up by €6.25 on the contract low of €316.00/t which was set on Monday. Nov-14 Chicago soyabean futures prices settled at $388.62/t on Tuesday, a fall of $10.47 on the week. UK Hi-Pro soyameal prices were £310/t as at 18 July, down £5 from the previous week. UK rapemeal prices were £157/t at 18 July, a week-on-week decline of £6.

To read more about the latest developments in the feed market click here.