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Straights Update

 12th September 2018 0845 602 7321 Currency - £/$ 1.3094  £/Euro 1.1244


The key points from last week’s USDA WASDE report include an increase in world 2018/19 wheat production of 3.4MT from August to 733Mt from higher Russian(+3MT) and Indian(+2.7MT) production exceeding the cuts to Australia (-2MT) and Canada (-1MT) pushing world ending stocks up by 2.3MT to 261.3MT.  This prompted the funds to liquidate contacts pushing prices to 2 month lows.  Maize yields in the key US states were projected at 11.38t/acre surprising the markets at these record high levels.  With tighter European supplies, some of this exportable surplus could be destined for the UK.  In 2016/7 imports from the US reached 251.5Kt but ample European/Black Sea supplies pushed this down to 25.6Kt last season.  Helped by improved currency maize and derivatives prices are lower this week.

Projected US soybean yields were raised to a record 3.55t/hectare and world ending stocks were increased by 2.3Mt on the month to 108.3Mt.  There seems no resolve in sight of the China US tariff war and in fact news that a further $200b of US imports from China could have at least 10% tariffs implemented has weakened this market.    Today we have seen the markets down by as much as £8 in some positions.

Trident have reported that some of this season’s crop has suffered considerably from the dry season which means supplies will be tight and there is unlikely to be anything available for the summer.  This could be a good time to look at either imported or soya hulls.

 

  

SOUTHERN PORT GUIDE PRICES
Please call your local trading office for an accurate quotation as these are guide only and may vary in your region.
17/9/2018
Sep – Oct 18
Nov-April 19
May – Oct 19
Nov – April 20
Hipro Soya
303.00
305.00
298.00
303.00
Price change since
7th Sept 2018
-11
-11
-8
-12
Rapemeal
Ex South Coast
247.00
237.00
May-Jul 237
-
Price change since
7th Sep 2018
-4
-7
-9
-
Soya Hulls
202.00
202
LH 188.00
 
Price change since
7th Sep 2018
-1
-
-
 
Sugar Beet
220.00
209.00
May – Sep
215
 
Price change since
7th Sep 2018
+2
+2
+7
 
Maize Dist
212.00
asa 216
 218.00
218.00
Price change since
7th Sep 2018
-26
-6
-3
-9
Wheat Gluten
203.00
203.00
 
 
Price change since
7th Sep 2018
-7
-6
 
 
Maize Gluten
199.00
199.00
204.00
 
Price change since
7th Sep 2018
-7
-6
-
 
Whole Maize
Asa 187
185.00
May-Sep 194.00
 
Price change since
7th Sep 2018
-6
-
0
Plus £10 ground
Rapemeal
Ex Erith
POA/217
217.00
POA
 
Price change since
7th Sep 2018
-
-
 
-
 
 
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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