Weekly Straights Update
26th January 2023
The figures in the charts are an indication only and reflect levels traded on Tuesday.
Some better rains in Argentina caused a small sell off/profit taking particularly on nearby prices.
Brazil’s crop still looks good and this will make up for some of the shortfall from Argentina.
The market will remain sensitive to weather news until the crop is secured.
A good February for weather could add a little more back onto the Argentinian crop.
Nearby availability remains difficult, though some better offers are coming to the market for March onwards, suggesting oil sales have picked up, encouraging some extra crushing.
Prices for the summer remain good value against other proteins.
There is likely to be a switch to US imports for soya meal which may limit the soya hulls coming in, as they are a lot more expensive from the US, than South America.
Ethanol margins remain poor meaning forward offers for material is limited and what is offered is expensive against other options.
If this were to improve better levels could be offered but it is dependent on ethanol demand/global recession.
Vivergo is still not producing much, limiting domestic availability, as they buy up anything nearby to supply contracted sales.
Still limited fresh news and the market is still fairly stationary, whilst it waits to see if there is a second offer for home produced product.
Pressure continued to come from Black Sea exports as well as some improved rains for the US, which will help alleviate the issues following the drought.
And finally, totally irrelevant but quite interesting facts of the week…….
If the rest of the planet’s fresh water disappeared, there would be enough left in Lake Baikal in Russia to supply humanity for 50 years and if all the salt in the oceans was spread evenly over the land, it would be 500 feet deep.
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
You can look back at previous product prices here
Use the filters below to select the Product and the Date
Spot Price Trends 01/01/21 to 25/01/2023 (£/t)
'Price at Fixed GBP to USD (Jan 2018)' takes out the effect of exchange rate movements between £ vs. $