Market Report
Andover
Andover – Fax
01264 358011
01264 361233
E-Mail paul.roberts@abagri.com
13th June 11
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Soya – The latest USDA WASDE report surprised the market, but only on the Corn side. The market viewed
the Soy figures as neutral to bearish, mainly due to the USDA stock figures. The market sees US bean
stocks increasing and comfortable world stocks, interesting as they are forecast to fall 3mmt next year!
Looking forward we need to look at the next report on 30 th June at the planted acres (some think they will
be different to those published in the WASDE), the Chinese demand (forecast by the USDA to increase by
4mmt, the crop ratings in the near term and last but not least the weather. The latest planted acres and
crop ratings have improved dramatically in last 7 days, however they are still behind last year. 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 – It rains and the market drops! The last few days have seen an easing due to the rains in many
parts of Europe over the weekend. It remains to be seen how much of an effect it has on the Rapeseed
crop, but the market is trading that it has. The old crop meal is still trading at a discount to the new crop
due to sluggish demand. For more information please contact your sales specialist or Jeremy Strutt on
01264 320804.
Energies/Fibres – Well the ride over the last 7 days has been the most exciting for a while, thanks to the
USDA. The WASDE report for Corn was extremely bullish and the market reacted accordingly, trading limit
up that afternoon. The reason for this was the USDA numbers for new crop (lower acreage and a big
question mark over yield!) and leaving the US S&D for old crop unchanged, which was more aggressive
than anyone thought they would be. We have since seen the market ease on profit taking, but the bottom
line is the 2 major producers (US & China) are not producing enough to meet demand! So the scenarios
we are left with are, produce more Corn (impossible this year) or ration demand via higher prices. At the
moment the latter is more likely!! The Wheat numbers were less exciting for the market, with many
thinking the USDA are carrying on with the game of smoke and mirrors. There is still much uncertainty
over the 2011/12 world Wheat crop, and the exports that will come out of the Black Sea. The rains seen in
the UK and Europe were seen as beneficial, although a number of needy areas didn’t receive it. The other
thing to watch is the Wheat versus Corn price. Historically Wheat trades at a premium to Corn, so with a
potentially explosive Corn price it will be interesting to see if this remains the case or do the dynamics
change and Wheat trade at a discount? As said in each report, volatility is the only certainty!! The prices of
Maize Gluten, Distillers & Soya Hulls have firmed but still look attractive, so for more information and
prices please contact your sales specialist or Paul Roberts on 01264 320801. Bread is still in a very tight
situation, but to register an interest please contact your sales specialist or Sandra Croughton on 01264
320812.
Moist Feeds- Brewers Grains are sold out until Mid August, unless we have any cancellations, due to lower
productions and increased demand. Wessex Moist Blends are also sold out for the same period, unless we
get any cancellations. To register interest please contact your sales specialist or Mike Holland on 01264
320800
Secure Covers- For effective sealing of your silage pit, have you ordered your Secure Covers? For prices
and sizes contact your sales specialist or Samantha Farrant on 01264 320808.
Silage Additives- The KW range of silage additives is designed specifically for UK conditions. For more
information about our complete range contact your sales specialist or Samantha Farrant on 01264 320808.
Ex Port Guide Prices – Prices are subject to change
Jun-Oct
Nov-Apr
164
Soya Hulls
151
156
Rape
172
177
Wheatfeed
137
152
Currency
£/$ 1.6414
£/€ 1.1378
Thought for the day
“Life isn’t about finding yourself
Life is about creating yourself.”
.”
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
190
278
Southampton
210
275
London
206
283
Teignmouth
EU DDG 34PF
Citrus pulp
pellets
284
Portbury
139
281
East Anglia
136
273
Southampton
PKs
276
London
273
Teignmouth
Portbury
East Anglia
Southampton
London
Teignmouth
Portbury
East Anglia
Southampton
London
Teignmouth
Portbury
Hi pro
Asa May-Oct