Feed market update - 10 September 2014
Read our latest summary of developments in the global cereals and oilseeds markets
Last week saw the Nov-14 UK feed wheat futures price falling below the £120/t mark, signifying continued bearishness in the UK feed wheat market. On Tuesday, Nov-14 UK feed wheat prices settled at £118.05/t, a fall of £2.95 over the week. Another market test was the Nov-14 Paris wheat futures falling below €170/t on Tuesday. Bearishness in the UK grains market was also echoed globally, with Dec-14 Chicago wheat futures declining by $10.11 over the week, and closing at $193.80 on Tuesday (9 September). Chicago and Paris maize futures also fell during the week.
The amount of GB raw materials used in the retail production of animal feed was down by 2.6% in July 2014, compared with last year, with a slightly higher cereal incorporation rate. In July, there was proportionately more barley and maize being used instead of wheat in the feed ration.
UK soyameal (hi-pro, ex-store, East Coast) prices closed £5 lower on the week at £335/t, and UK Rapemeal (34%, ex-mill, Erith) was up £5 at £171/t. Dec-14 Chicago soyabean prices closed down $14.42 since the previous week on Tuesday at $364.74/t. Nov-14 Paris rapeseed futures closed at €324/t, also down €2.50 on the week.
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