Feed Market Update - 4 March 2015
Read our latest summary of developments on global markets for cereals and oilseeds.
Over the past week, UK feed wheat futures (May-15) dropped below £120/t for the first time since mid-October. As at Tuesday 3 March, May-15 UK feed wheat futures closed at £118.70/t, down £1.80 on last Tuesday. Chicago wheat futures (May-15) closed at $185.90/t on Tuesday (3 March), up $0.82 from the previous week. Chicago maize (May-15) futures settled at $153.94/t, $2.17 higher week on week. The latest report from the International Grains Council (IGC) brought more bearish news to the grain market last week as global wheat production estimates were revised higher for 2014/15.
According to the AHDB/HGCA Winter Planting Survey, which covers England and Wales, 1.69Mha of winter wheat had been planted as at 1 December 2014. This is 7% lower than the wheat area that was harvested in 2014. Further findings of this survey can be read here.
The UK rapemeal prices (34%, Ex-mill Erith, March delivery) were £186/t on Friday (27 Feb), down £3 on the previous week. Hi-Pro soyameal (Ex-Store East Coast delivery) was £316/t. Global oilseed prices received some support from the disruption caused by protests by Brazilian truckers during this week, although UK delivered rapeseed prices remained fairly flat due to currency movements.
To read more about the latest developments in the feed market click here.