UK trades/markets

After a flurry of activity last week with sellers & consumers alike juggling their positions around, the wheatfeed market appears to have fallen into a deep, deep sleep.

With spot pellets trading around the £120 mark ex South East locations for the last couple of days of last week, buyers appear to have had their fill for now and seem generally content to sit and wait for lower levels.

There are some reports of £118 trading for slightly more out of the way locations than the typical Tilbury/Corby/Wellingborough/Peterborough range. Certainly at least one flour mill took £116 for Saturday collections. June/Sep also traded at £118 Friday, as did spot meal out of Liverpool at £120.

Other products are generally lethargic, spot soya hulls ex Liverpool a stand-off with buyers ideas at £141, sellers at £143.

On the rapemeal front the crushers have raised their aspirations around £10/tonne over the last fortnight as the seed market has risen. Consumers are pretty much saying, well if I didn't want it then, I certainly don't want it now!

Planned downtime across the tail end of old-crop months may prevent there being too much blood shed for now. August onwards will be interesting however as the I'd guess that the crushers currently have a lot less sold than normal. I personally can't see spot demand being there when the time comes. With Aug/Oct priced at a comparatively cramped discount of just £4-5 under Nov/Apr there aren't many takers out there.

I can hear the crushers now screaming "but that means were cheap for Nov/Apr!!"

No it doesn't. It means you're not as dear for Nov/Apr as you are for Aug/Oct!

Meanwhile nearby citrus pellets are about as popular as Gordon Brown.

Pass me the factor 30.