Pulses market report
Bean prices have continued to follow wheat. A large winter bean crop of mainly Wizard is expected to go into the ground this autumn, possibly 50% more than the same period in 2007.
There is a reluctance to buy with the present market direction. The dramatic recent drop in sterling value will however make our export crops more competitive.
Spring pulse plantings will be competing with malting barley, but pea margins are very good at the moment as UK shortages continue.
Feed Beans
Prices have stabilised and some domestic sales are being made. Premiums above feed wheat are now low enough to allow their inclusion into feed formulations, and some buyers have recently appeared from Northern Europe. Beans are trading at £15-20 premium over wheat, which is around £80 at present.
Export Beans
The Egyptian government is capping local market prices, so buyers have been very reluctant to meet price agreements. Demand is therefore quiet, with buyers assessing the situation before committing to the higher premiums for the better quality on offer. Moisture is proving a problem at this end of the market - anything above 15% is unacceptable for export.
Marrowfats
Their continuing price strength is forcing packers/processors to turn to blues, and import prices have come down. A weaker pound may slow this trend. Is marrowfat demand ’recession-proof’? Recent demand for canned vegetables suggests it might be.
Blue Peas
Canadian blues continue to dominate in Europe with their production (including a large proportion of yellows) breaking records this autumn at 3.562mln/t, from both a larger acreage and higher than usual yields. The drop in sterling’s value against the dollar came too late for most UK exporters, but will make future loads from Canada expensive. UK quality is generally good considering the harvest conditions we had in many parts. Some Yorkshire crops were not harvested until the third week in September!
Agronomy notes
The PGRO seed lab has rarely been busier, confirming a significant increase in autumn planting, which is now in full-flow with some very good soil conditions and (for once) clement weather.
There is still a proportion of bean seed infested with stem nematode and this is especially important where farm-saved seed is being considered. Disease levels are very low again this year, thereby reducing the risk of Ascochyta in the winter beans. Bean seed size is larger than average and this will have a bearing on seed rate calculations.
Growers of winter beans should now be aware that the simazine is not now allowed, however suitable alternatives are available and proved to be successful last season. This autumn will be the last chance to use trifluralin-based products in the winter crop.
