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straights report
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Straights Update

31st  October 2017 0845 602 7321 Currency – £/$ 1.3211 £/Euro 1.1354

This colder fresher weather is concentrating the mind on the coming winter months and the availability and pricing of supplies.  It’s becoming apparent that there may be supply and therefore pricing issues with some commodities.  It was mentioned last week that Trident had withdrawn first offer sugar beet having sold a large percentage of their crop at levels that made imported uncompetitive.  New crop imported sugar beet is not in yet and will be later than normal with limited supplies coming in due to its price.  The Russian crop is good and may be brought in if Trident come out with a higher second offer and it becomes competitive but this is unlikely to be until into the New Year.  There’s a limited supply of soya hulls available until spring so we would advise covering any requirements of both sugar beet and hulls even at these levels as prices do look set to firm.

Both maize and wheat distillers also look set to firm with poor ethanol margins causing some US plants to close.  Trident Feeds have withdrawn wheat distillers prices for this winter and with demand still high and limited European selling supplies could come under pressure.  There is still some imported available south coast and summer levels may also be worth looking at.  

Wheat gluten supplies have all but dried up and there is a very real chance of available material for November to January completely drying up.  Maize gluten will also be in short supply over that period.

Rapemeal still seems expensive for the second half of the winter but again it would seem prudent to have requirements covered into the New Year.  In the South West we will be limited in obtaining Erith material over the Christmas period from 21st December into first week of January.  Soya has seemed relatively quiet in comparison.  Prices have drifted lower thanks to Sterling strengthening with expectations of interest rate rises in the offing but little other relevant news.  The next USDA WASDE will be on 11th November which could be the time they report a lower yield figure possibly a trigger to move prices upwards as we go into the Christmas period.  

As a summary it would seem a good time to look at requirements for the next couple of months as a hedge against any possible shortages.

 

 SOUTHERN PORT GUIDE PRICES
Please phone your local trading office for individual quotes
27/10/2017
Oct
 
Nov – April 18
May – Oct 18
Nov –Apr 19
Hipro Soya
284.00
284/286
292.00
 
Change from  
 13th Oct 2017
-1
-3/-5
-1
 
Rapemeal
Ex South Coast
176.00
176/190
m-jul 195
 
Change from
13th Oct 2017
0
-3/+3
+5
 
Soya Hulls
159.00
159.00
Asa 144.00
146.00
Change from
13th Oct 2017
-
-
+4
+3
Sugar Beet
172.00
Asa 157/158
164.00
158.00
Change from
13th Oct 2017
0
+7/+2
0
-1
HP Sugar Beet
Supaflow
170.00
170.00
Limited supply
Maxibeet less
£3
Maize Dist
178.00
178/80
175.00
 
Change from       
13th Oct 2017
0
0
0
 
Wheat Gluten
149.00
150.00
 
 
Change from
13th Oct 2017
+1
+2
 
 
Maize Gluten
POA
Asa 165.00
160.00
 
Change from
13th Oct 2017
-
0
0
 
Whole Maize
163.00
Asa 163/165
171.00
Plus £10
Change from
13th Oct 2017
0
+3
+3
ground
Rapemeal
Ex Erith
 
159/172
 
 
Change from
13th  Oct  2017
 
+1/-3
 
 
 
The information contained within this report is given in good faith and without liability.
Any opinions expressed are subject to change without notice.
 

 

 
 

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