- Sterling slightly higher as UK unemployment falls from 4.4% to 4.2% while UK wage growth slows to a two year low of 5.4% pa.
Proteins
Soya
- Pricing in the UK for soya meal down around £10-£12/t week-on-week.
- The latest USDA report as of Monday 12 August confirms US soybeans acreage up 1 million acres, yield up 1.2 bushels/acre, increasing production by 154 million bushels.
- Six year high of estimated soybean ending stocks.
- Potential stock piling of soya in the EU ahead of EUDR regs effective 1 Jan 2025.
Rapemeal
- Declining European/UK production the lowest since 2020, despite yields so far being slightly better than feared across Europe. Still looks like two million tonnes of extra seed imports required in Europe.
- Soya margins looking favourable over rape crush for October onwards.
- With USDA reports of expanding US soya bean production and soya meal prices under pressure, rapemeal increases could be capped to remain competitive.
Maize Distillers
- No major concerns with the US corn crop keeping pressure on DDGS pricing.
- Margins continue to remain positive for US producers, incentivising production.
Fibres
Palm Kernel
- Order flow in most destinations is very quiet. Foreign exchange remains the main driver.
Soya Hulls
- Market direction driven by liquidity and without sustained volume, Argentine farmer selling prices have some underlying support.
- Bean crop production in Argentine regions bodes well for hulls production. Currently at 51 million, double last year’s figure.
Sugarbeet
- Overall global supplies deemed as adequate with lower demand at this moment in time. Russia has a large exportable surplus.
- Potential for lack of imports throughout the remainder of the summer could drive higher technical markets at destination.
- Domestic sugarbeet remains expensive versus alternatives.
Cereals
Wheat
- US winter wheat harvest has advanced to 88% complete, swiftly followed by spring wheat, which was reported as 6% complete. US wheat exports remain routine, but are running on track to meet the yearly projection and are currently 16% ahead year-on-year.
- In the UK, old crop suppliers are just about keeping up with domestic demand. With higher than expected imports, the increased 2023/24 carryout has limited any increases in pricing. Domestic wheat pricing remains largely sideways week-on-week.
- European pricing is back £3/tonne versus last week, largely driven by a deterioration in French crop quality.
Barley
- Estimates that the barley crop in the UK is 35% harvested in total with the winter harvest at 97%. Crop quality remains positive with moistures averaging 14%.
- Domestic demand of barley has picked up in the last week with it deemed value versus wheat and corn although farmer selling is light.
- Domestic barley prices down around £1/t week-on-week.
Maize
- US 2024 great growing season and record yield forecast giving 384m tonne crop and ending stocks 53m tonnes, a six year high.
- There is a possibility the South American crop could be 11m tonnes less than the USDA estimated.
Fertiliser
- The global urea market remains stable this week despite increased tensions in the Middle East. Energy costs have moved higher, and this will continue to be an area of concern going forwards for all producers.
- The Middle East is the largest exporter of urea globally and move over 20 million tonne/pa onto the world market. Iran accounts for a quarter of that amount and any disruptions to this production could have a far-reaching effect.
- Nitrates across the board remain flat with little-to-no new business done, despite ammonia prices now over $100t firmer than those seen in May/June when CF launched the new season.
- Global NPK/NPS prices continue to be supported by increases in DAP prices east of Suez, although demand has slowed in some markets over the past month.
- Globally, phosphate prices are expected to increase further. The most recent completed sales show higher levels are supported and stocks are low.
Performance Products
- Fluctuating grass quality can result in omega-3 deficiency, linking to poor performance. Lintec can help make up any shortfall, being a high omega 3 product. As well as supporting fertility by boosting hormones involved in oestrus activity and the prevention of early embryo loss. Lintec can also reduce inflammation; alongside these benefits it is proven to reduce methane emissions.
- Restore nutrient balance after calving with Translac HydroBoost. Translac HydroBoost contains electrolytes, calcium and energy, everything a cow needs to quickly restore its nutrient balance after calving and to increase its blood calcium levels. Translac HydroBoost also stimulates dry matter intake after calving which helps in maintaining good milk production and body condition.
- Are you supplying the correct amount of vitamins, minerals and trace elements is important for optimum production, health and fertility. Deficiency or excess of minerals can reduce performance and seriously affect animal health. Get in touch with your account manager to make sure your ration is balanced efficiently.
Co-Products
- Do you have your feed supply covered for the remainder of the summer or are you starting to think about winter feeding? We currently still have availability of our moist blends Selcoplus and Amyplus. Fixed prices are currently available to contract until the end of September, giving peace of mind that feeding costs aren’t going to fluctuate.
- Our moist blends are manufactured to order and therefore you can rest assured that you will receive delivery in-line with your feeding requirements when other products may be in short supply. Ideal for driving intake in addition to being a great option as a forage extender.
- Delivery is available nationwide in full 28t artic and 20t rigid tipped loads. Should you have interest in pricing and availability for delivery now or wish to register your interest for the winter then please contact a member of our team.
Forage
Wholecrop Inoculants
- With the start of wholecrop harvest, do you have your preferred inoculant in stock?
- Inoculant reduces dry matter losses, minimising nutrient loss and providing more digestible neutral detergent fibre (NDF) and crude protein. It generates more lactic acid and reduces ammonia production while inhibiting mold formation and therefore reducing mycotoxin risk.
- Options available:
- Ecocool – Aerobic stability (current offer buy 11 units get one FOC).
- Ecocorn – Aerobic stability plus potassium sorbate, inhibitor of yeasts and moulds.
- Sil – All 4x4 – Faster fermentation with aerobic stability and contains an enzyme.
- Pioneer 11A44 – Suitable for higher dry matter crops. Rapid react option.
- Pioneer 11GFT – Fibre technology.
Grass Reseeding
- Do you have grass leys that are not performing at their peak? Would they benefit from reseeding or overseeding? Contact us to discuss specific options according to your requirements.
- View our grass leaflet here.
Sustainable Farming Incentive SAM3
- Are you wondering what your best options are with regards to the Sustainable Farming Incentive (SFI)? Contact us to discuss your options.
- Looking at SAM3 herbal leys? We have a number of options available to ensure that production is not compromised.
- Request a copy of our environmental brochure.
Sustainable Farming Incentive SAM2
Roots
- Brassica crops offer an additional extended summer feed option or can be used for finishing lambs and winter keep. Stubble turnips, forage rape, swedes, hybrid brassicas and root mixes are available from ForFarmers.
- You can find out more about our range of forage root crops here.
Autumn Cereals
- Many options are available for autumn sowing. Please contact us to discuss variety options.
Weekly currency trend
£1.279/$ - mixed
£1.171/Euro - mixed
