Feed wheat for spot/pre-Christmas collection is marginally improved this week at £142/T ex- farm.
For those of you who are flexible on collection throughout December there may be some small opportunities for movement – please contact the office to discuss your requirements.
As for any milling varieties, most local homes appear to be well covered for movement before the end of the year and most ex-farm values which offer a significant premium are for the New Year now.
For those of you looking for spot movement, any opportunities should be worth some consideration.
Feed barley continues to trade in the region of £125/T ex-farm although again values are slightly more for movement into December.
It was announced on Friday that Hulls Bio-ethanol plant, Vivergo Fuels, is to “bring forward a planned maintenance shutdown in response to Deteriorating market conditions and legislative uncertainty”.
The plant has planned to both “bring forward and extend” the maintenance period to lessen the impact of the plants profitability.
Given that Yorkshire feed wheat has commanded a significant premium to feed wheat located elsewhere in the country due to high demand, we could see local ex-farm values weaken in the coming weeks.
The release of this month’s World Agricultural Supply and Demand Estimates (WASDE) last week didn’t offer anything overly exciting for the grain market but it did help clear up a few rumours.
The estimates made no change to the Australian wheat production figures despite the recent speculation.
In contrast, drier than normal weather in South Australia likely caused some reductions in yield potential.
Regardless, and despite much trade speculation, the USDA has left the Australian wheat production figure unchanged at 21.5 million tonnes this month.
It is worth noting the South American production figures this time of year as the trade begins to turn its attention towards Southern Hemisphere production.
Elsewhere, Seasonal rainfall developed over key soybean areas of central and north eastern Brazil during the latter half of October, providing timely moisture for germination and establishment.
In Argentina, periodic dryness interspersed with locally heavy showers maintained overall favourable conditions for immature winter grains and emerging summer crops although some locals are reportedly struggling with excessive wetness.
This month’s maize corn production figures are unchanged for both
Argentina and Brazil at 42 million tonnes and 95 million tonnes respectively.