Market Report
Andover
Andover – Fax
01264 358011
01264 361233
E-Mail paul.roberts@abagri.com
11th July 11
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Soya – Well the market has become range bound on no fresh news to excite the market. There are a
number of unknowns stopping the market from dropping, but the market needs either the weather to
change or China to come back to the market to push it upwards (the weather late in the week favoured
the bulls, so new forecasts will be important). The USDA are publishing the latest supply and demand
figures tomorrow, but with the market generally losing confidence in the USDA it will be interesting to see
how the markets react (if at all). The market is also factoring in that the US will roll old crop beans into
new crop but with a growing belief that these will be needed as the chances of early beans reduce. This
allied to continued talk of poorer Rapeseed crops around the globe helped Soy to end the week higher.
We still maintain at current levels it is worth looking at taking cover going forward and for more
information please speak to your sales specialist or Jeremy Strutt on 01264 320804.
Rape meal – There is still concern in the market over the forecast reduction in yields of the global
Rapeseed crop, which could in turn drive the price of the meal. However, until the combines get into the
field it is all speculation and rumour. We are still seeing sluggish demand, caused by the time of year and
the fact that Rape still looks expensive against Soya. As mentioned last week, the ADM maintenance
shutdown has started, so hopefully this should limit any breakdowns the ageing plant will suffer through
the important winter months. But please bear in mind that they will potentially only have limited stocks
during this time so would urge you to get and deliveries planned for sooner rather than later. For more
information please contact your sales specialist or Jeremy Strutt on 01264 320804.
Energies/Fibres – The Corn market spent most of last week in recovery mode after the USDA report
fireworks. As said previously the market largely doesn’t believe the figures and has spent time dissecting
and analysing! And what did they find? Well there are doubts over the planted acreage and a diminished
appetite for trade. That said, there is an increasing thought that the September stocks report could
produce yet another surprise, but in the opposite direction to the last report!! The ethanol margins in the
States remain high, but if the tax credit is removed (many think it will as Obama needs to save money)
then this may temper the consumption. That said livestock prices are high which will encourage use and
we have seen large sales to various destinations. The current outlook is also pointing to higher prices with
a more threatening weather forecast and the potential Chinese demand (especially as the recent sales
were not in the S&D). The Wheat market is looking an increasingly difficult one to call. With the last
report from the USDA the market should drop, especially with the Corn figures, but then weather plays its
part with dryness in Argentina & Australia and early yield figures from Europe being down 25-30%. There
is also concern over the heavy rain being experienced in the Ukraine. And then Russia is indicating yields
30% above last year (but that was an awful year, so they should be!). All we do know is that volatility is
the only constant. Maize Gluten and Distillers have remained firm; with currently no signs of a drop (in
fact it looks like replacement costs are higher). Soya Hulls have remained in demand, and for more
information and prices please contact your sales specialist or Paul Roberts on 01264 320801. Bread is now
completely sold out for the summer. This situation is unlikely to change due to very tight supply, but to
register an interest please contact your sales specialist or Sandra Croughton on 01264 320812.
Moist Feeds- In spite of better and a little more settled weather brewery production has dropped due to
being full to capacity with beer. We are obviously all not drinking enough, so perhaps we could all do our
bit for the dairy industry!! We do still have limited quantities of Wessex Gold available and for more
information please contact your sales specialist or Mike Holland on 01264 320800. We are sold out of
Traffordgold for the summer, and prices and availability for the winter will not be released until late
September or early October, but to register an interest please speak to your sales specialist or Sandra
Croughton on 01264 320812.
Secure Covers- For protection of your silage clamp, have you ordered your secure covers and gravel bags?
These can be used directly over big bale silage to give effective bird protection. For further details please
contact your sales specialist or Samantha Farrant on 01264 320808.
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Protected Fats- Megalac is looking very good value for money. It is highly digestible, increases milk yield
and decreases the risk of acidosis. For more information contact your sales specialist or Kevin Ford on
01264 320805.
Ex Port Guide Prices – Prices are subject to change
Jul-Oct
135
196
197
Rape
170
175
Wheatfeed
145
148
175
Currency
£/$ 1.5970
£/€ 1.1270
Thought for the day
“Sometimes you have got to jump off cliffs and grow wings on the way down”
The information contained within this report is given in good faith and without liability. Any opinions expressed are
subject to change without notice
East Anglia
276
Southampton
London
148
Teignmouth
148
Portbury
Soya Hulls
East Anglia
154
278
Southampton
178
191
London
EU DDG 34PF
Citrus pulp
pellets
275
Teignmouth
132
Portbury
279
East Anglia
281
Asa May-Oct
Southampton
London
278
Teignmouth
Portbury
127
275
East Anglia
PKs
278
Southampton
275
London
Teignmouth
Portbury
Hi pro
Nov-Apr