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Bethan Wilkins

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AHDB Pork Market Intelligence

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Feed market update - 30 July 2014

Home \ Prices & Stats \ News \ 2014 \ July \ Feed market update - 30 July 2014

UK feed wheat prices continued on the downward trend this week, weakened by the good harvest reports from the EU and UK. Concerns over dry weather in key US soyabean growing states and strong export sales provoked a price rally over the past week.

UK feed wheat prices continued on the downward trend this week, weakened by the good harvest reports from the EU and UK. Nov-14 UK feed wheat futures closed at £123.95/t on Tuesday, down £3.70 from the previous Tuesday and another new contract low. The latest UK harvest report by ADAS indicated that by 22 July, an estimated 10% of the UK combinable crop area had been harvested. Yields for winter barley and winter oilseed rape to date are typically better than average. US maize crops are well into the critical pollination phase and the latest fall in prices points to some ‘risk premium’ being removed from the market, as conditions to date have been favourable. Chicago maize prices have increased slightly since last week; at Tuesday’s close, Dec-14 prices reached $146.06/t, up $1.08 from last week.

Concerns over dry weather in key US soyabean growing states and strong export sales provoked a price rally over the past week. Nov-14 Chicago soyabean prices increased by $13.68 over the past week and closed at $402.30/t on Tuesday. Paris rapeseed futures also followed the upward trend, and closed at €332.75/t, up €10.50 from the previous Tuesday. UK Hi-Pro soyameal prices (Ex-store East-Coast, July delivery) were £317/t (25 July), up £7 from the previous Friday. UK rapemeal prices (34%, ex-mill Erith, August delivery) also followed the upward trend and increased by £2 to £159/t.

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