By FWi staff
SOYABEAN meal continues to fall on the back of good crop predictions in North America and plantings that are well ahead of schedule.
Soyabean meal hi-pro has fallen £3 over the week to £125/t, while Brazilian 48% pellets and meal dropped £4 to £118/t.
Ian Tremain of Mole Valley Farmers believes that soya prices are unlikely to go much lower because the cost of ports and shipping. “They wouldnt bring it over at much less,” he added.
But despite these low values, the straights market remains very quiet – “Farmers are not concentrating on buying forward because theyre all in the field making silage at the moment,” said Mr Tremain.
The debate over GM-free ingredients is another issue which he believes is putting farmers off.
The trade is waiting for clarification from the supermarkets as to what their stance on GM feed will be.
We are urging dairy producers to talk to their milk buyers to establish what they want, said Mr Tremain. “Farmers will need premium payments for premium outputs.”