By FWi staff
STRAIGHTS values have soared over the past fortnight among widespread belief that firmer prices are here to stay.
Soya bean meal hi-pro has risen 10 in two weeks to 159/t, while Brazilian 48% pellets and meal have increased 9 to 157/t.
“We are seeing a return to higher values and it looks as if it will be sustained,” says Ian Tremain of Mole Valley Farmers.
He believes the soya market is being underpinned by strong world demand as the Asian economies continue to recover.
Besides this, a major Brazilian shipper has withdrawn supplies.
Mr Tremain says those needing it should take cover to April to avoid further price increases – although before buying for next winter, farmers should seek assurances from their milk buyer over the GM issue.
“Some companies are giving September as a date to switch to non-GM feeds, while others are still being very woolly.”
David Clark of KW Alternative Feeds says the increase in soya values is the result of increased purchases by China and fund buying in the USA.
Reports state that China is looking to buy 4 million tonnes of soya this season, and has already purchased eight 50,000t cargoes this month.