Latest UK trades/offers/comment

Talking to a large northern compounder this morning I asked him if he was up to much, he said he'd been in the office until 9pm earlier in the week processing feed orders. Today he said he's picked the phones up twice just to check that they are still working! Anyone who wanted feed in May has got their order in last month at last month's prices. No surprises there then.

The rapemeal market continues to drift lower as crushers and shippers alike remain aggressive sellers and buyers are cautious and unsure of demand this summer. There is still some front-end premium to be had, if there is any buying interest around that's where it is. June onwards however is friendless.

Erith quotes today: Spot May fixings £170 traded yesterday; May unfixed 169; Jun/Jul £163; Aug/Oct £148; and Nov08/Apr09 at £155.

The wheatfeed trade is still in stand-off mode with millers holding out for last months prices and consumers looking for next months! Whilst some compounders still have tonnage left to take from old April contracts that should at least provide some off-take at the beginning of the month. What is going to happen as May wears on however is a different kettle of fish.

Spot Liverpool soya hulls reported traded yesterday morning at £141, then widely reported in the afternoon at £143. This is up from last week's traded levels of £138-140. If any millers are still a seller at last week's money on this one then I'm your man!

Spot/May Liverpool PKs have been trading recently at £136. Also got some resale offers on spot citrus pellets, spot Liverpool 48% soya, May/Jul Humber tapioca & Braz maize all £POA.

Full IP hipro soya very limited quantities available around £330.00 spot ex Humber.

Suns 32% Argy small quantity available ex Liv around £187.00

Spot maize distillers grains on resale ex Avon last reported done at £192 earlier in the week.