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Bethan Wilkins


AHDB Pork Market Intelligence


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Feed market update - 1 April 2015

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Read our latest summary of developments on global markets for cereals and oilseeds.

May-15 UK feed wheat futures closed at £120.50/t on Tuesday, down £2.10 since the previous week’s close. Chicago May-15 maize and wheat futures followed a similar trend, closing down $4.32 and $6.69/t respectively week on week. The market was weighed down by USDA quarterly stock figures (as at 1 March), which revealed wheat and maize stocks were up 11% and 6% respectively year on year. Maize stocks were the highest for 1 March since 1987, while the change in wheat stocks between 1 December and 1 March is the smallest since 2008/09. This reflects the sluggish pace of US wheat exports so far this season, not helped by the strength of the US dollar.

Chicago May-15 soyabean futures prices closed at $357.57/t on Tuesday (31 March), down $3.12 since the previous Tuesday’s close. UK rapemeal (34%, ex-mill, Erith) was £190/t on Friday (27 March), up £4 since the previous week. According to Strategie Grains, a favourable outlook for European rapeseed yields is not enough to offset a reduction in the estimated planted area and a decline of 10% in EU-28 rapeseed output is forecast in 2015/16, compared with 2014/15. Very early results from the Argentine soyabean harvest, which commenced last week, revealed better yields than expected, which will compensate for damage caused by flooding. Although a useful indication, yields could vary as harvest progresses but as weather prospects look good for the crop, sentiments are currently remaining bearish.

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