By Olivia Cooper
PULSES could be the only feed commodity that the UK will readily export this year, as wheat and barley markets focus on imports due to the smaller crop size.
But exports have become less competitive, with Sterling strengthening against the Euro over the past two weeks, and prices have weakened by 3-4/t.
Feed beans are worth about 90/t ex-farm for September, with good quality spring beans fetching a 5-8/t premium.
Pea prices have also weakened, but premiums for micronising are still strong, at 15/t above the feed price of 88/t for September.
Unlike peas, quality is proving a problem for oats, which are showing very variable specific weights and colouring.
Harry North from Glencore Grain predicts that exports will drop to less than half last years figure.
“Quality is not up to scratch for milling exports, and feed demand is being covered by cheap grain from eastern Europe.”
Milling oats are worth 65/t ex-farm for October, but Grainfarmers trader Peter Harman says farm selling is very thin.
“With a tighter supply in the UK and the lack of farmer selling, I wouldnt rule out a price rise later in the season.”