Weekly Straights Update
25th February 2021
Market Report, 25/02/21
Harvest delays continue in Brazil, with big line ups of ships waiting to be loaded.
Some lower levels over the past week, with good crush margins in Argentina and decent plantings in the US projected.
Though freight rates remain high.
A stronger Sterling has also helped, as prices moved up in the last couple of days due to funds trying to pull the market upwards.
Prices moved up with the Canadian market, as they have high demand for meal and oil.
They are also trying to hold onto seed to help with their tight balance sheet.
Palm oil markets strengthened too, pulling rape oil with it.
Prices at origin are lower, but offset by higher freight costs.
Both maize and wheat distillers remain uncompetitive against rapemeal for the summer.
Wheat distillers are still not available until August.
Prices remain steady and unlikely to compete against hulls.
And finally, totally irrelevant but quite interesting facts of the week…….
It’s possible to turn peanut butter into a diamond, Alaska is the only US state whose name is on one row of a keyboard and a frigate bird can sleep while it flies.
1. All data in this report are provided by KW
2. Click on the 'information' button to link through to the exact product specification
3. Price indications are based on 29t bulk tipped loads delivered to Oxfordshire and are guide prices only.
4. For firm prices and availability, please contact Joe Cobb on 01865 393 139
Historical Product Prices
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Spot Price Trends 01/01/20 to 25/02/21 (£/t)
'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $