Feed market update - 11 March 2015
Read our latest summary of developments on global markets for cereals and oilseeds.
May-15 UK feed wheat futures closed at £117.95/t on Tuesday (10 March), down £0.75 since the previous Tuesday’s close. Chicago May-15 wheat futures closed at $181.22/t on Tuesday, down $4.68 week on week. USDA revised global wheat stocks and production lower in its March supply and demand estimates, which were released on Tuesday and this had a slightly bullish effect on prices overnight (10 March). Defra cereal usage data, published last Thursday (5 March) revealed that the proportion of barley used in compound feed production increased at the expense of wheat in January.
UK rapemeal (34%, ex-mill Erith) was £179/t as at 6 March, down £7 on the previous week. Brazilian soyameal, (48%), ex-store Liverpool was £346/t as at 6 March, unchanged on the previous week’s price. May-15 Chicago soyabeans closed at $361.71 on 10 March, down $10.19/t since the previous Tuesday’s close. In terms of the outlook the Argentine 2015 soyabean harvest could well be revised down and US new crop futures prices are rising.
To read more about the latest developments in the feed market click here.