29 January 2015 | Online since 2003



22 April 2012|Feed and Forage,News

Humphrey Feeds commodity report - 20th April 2012


Sterling lifted against $ during the week, but the main currency news related to the IMF begging bowl which was passed around looking for more contributions. Japan made a contribution, but will the UK, and will there be enough funds to address the increasing concern about the state of the Spanish economy? The bank of England admitted that it would cease quantitative easing next month, fearing that it could be adversly affecting inflation.

Wheat traded a mildly volatile week, ending less than £1 up on both old and new crop futures, although the physical market showed a distinct divergence with old crop rising £5, whilst new crop dipped mid week, to end unchanged, with the key November position showing wheat at £157 delivered to the mill. Have we had enough rain to avert a drought which would reduce the size of the crop? The HGCA confirmed that the UK is still exporting as over 200,000 T was exported in February, taking the season total to that date of just under 2 mln T. France has recieved some rain, which may help to address the this season’s drought, but the crop size is expected to be smaller, as are the crops from Spain (down 25%) and Germany (down 12%), meanwhile there are concerns in some key northern European states about the impact of the late winter frost which have probably reduced the the production. The Ukraine has increased cereal stocks by 70% on the previous season to 17 mln T, and they anticipate, with production for the coming season up to 60 mln T, with exports of up to 10 mln T, however Russia has a late spring which will delay spring planting.

US conditions are good for the developing maize crop, which might be harvested early, which is usually as new crop soya arrives in the UK, the price drops, however this year the supply has been slow, and the spot premium position seems to roll forward, so that this may yet be one of those strange years where we do not reach significant discounted summer prices.



225000 T of US soya was sold to an international mystery buyer, which is probably code for China. China’s animal feed production for March is up 18% on the same period last year – can the supply of imported feedstuffs keep up? So far this year China has bought 22mln tonne of US soyabeans, with forward purchases of new crop material of 6mln – a lot more to buy. Last year it used 55 mln tonne, this year….? Brazilian farmers have harvested 90% of the crop, but the harvesting continues to show reduced yields.

As the crop potentials in S America reduce, the higher prices rise. In Argentina the lower yields mean that farmers are slow to sell their soya - holding out for a compensating higher price. The funds hold a position that is bigger than the size of the Argentinean crop!




Download



Comments


No comments posted yet. Be the first to post a comment

To post comment without approval login or register

Display name

Please enter your name

Email (optional)
Comment

Please enter your comment

Post Comment

Your comment submitted successfully.Please wait for admin approval.

Some error on your process.Please try one more time.



Jobs


13 January 2015
Trainee Mechanical Engineer
Engineer – Engineering – Low Carbon – Manufacturing – Administrative – Administration - Admin - Purchase Ledger - Accounts - ...

7 January 2015
ENGINEERING LEAD
PE Global are now recruiting for an Engineering Lead for a rapidly expanding Dairy Company based in Devon in the UK....

5 January 2015
Infrastructure Manager
Citrix Farm upgrade and installation. A new position has been created within an established organisation based in Rochdale......

22 January 2015
DAFFODIL FLOWER CROPPERS NEEDED
CDS Labour is currently looking for experienced daffodil pullers to work on the field s on local farms in Spalding and Boston...

22 January 2015
Senior Research Fellow/ Reader
Initially, about 60% of the post-holder's time will be dedicated to a new Horizon 2020 research project entitled 'Sustainable...




Top stories you may have missed
12 November 2014 | Arable
GM crops 'good for farmers and the envir...

GM crops 'good for farmers and the envir...

GM crops are good for the economy and can reduce the amount of pesticides u...


6 November 2014 | Cattle
Smaller European markets drive beef expo...

Smaller European markets drive beef expo...

Demand from smaller European markets has helped drive strong growth for UK ...


6 November 2014 | Agri Safety
Lack of engineers a 'ticking time bomb' ...

Lack of engineers a 'ticking time bomb' ...

A lack of engineers, not enough people promoting the land-based industries ...


4 November 2014 | Bees and Beekeeping
Bee action plan due: Last chance for bee...

Bee action plan due: Last chance for bee...

Environment Secretary Elizabeth Truss is launching the National Pollinator ...


4 November 2014 | Arable
Experts welcome financial boost for youn...

Experts welcome financial boost for youn...

Agricultural specialists have welcomed a potential financial boost for youn...


3 November 2014 | News
Supermarket competition on prices 'risks...

Supermarket competition on prices 'risks...

As retailers continue to participate in a highly competitive race to the bo...


31 October 2014 | Arable
New Defra farm figures 'underline volati...

New Defra farm figures 'underline volati...

New farm business income data from Defra, which focus on income from March ...


30 October 2014 | Agri Safety
Agriculture remains one of UK's most dan...

Agriculture remains one of UK's most dan...

Agriculture has remained one of the industries in which workers are most li...


29 October 2014 | Finance
UK farmland prices see 'substantial grow...

UK farmland prices see 'substantial grow...

Prime arable land in the UK has seen a substantial year-on-year growth in p...


27 October 2014 | Arable
Satellites to help farmers pinpoint dise...

Satellites to help farmers pinpoint dise...

A new mobile app for farmers able to pinpoint and identify disease, pests a...