Feed market update - 18 February 2015
Read our latest summary of developments on global markets for cereals and oilseeds.
It’s been another fairly quiet week in the grains market, with UK feed wheat futures gaining some upward momentum after Thursday’s (12 Feb) close. On Tuesday (17 Feb), UK May-15 feed wheat closed at £125/t, up £0.75/t on the week. Chicago May-15 wheat futures gained $2.76/t on the week to close at $207.95/t on Tuesday. Chicago maize futures (May-15) followed the trend closing $0.59/t higher compared with the previous week at $156.00/t.
Protein meal prices fell once more on the week, with UK rapemeal (34%, Ex-mill Erith, February delivery) £187/t as at Friday (13 Feb), down £2/t from the week before. Hi-Pro soyameal (Ex-Store, East Coast, February delivery) was £315/t, down £15/t from the last recorded price (30 Jan). Chicago May-15 soyabean futures gained $13.78/t on the week to 17 February, closing at $371.72/t. The oilseeds market lacks direction at present although the supply situation is positive with a record South American crop expected and strong sales of US soya beans.
To read more about the latest developments in the feed market click here.