By FWi staff
SOYA prices have fallen about 20/t between April and May as more cargoes of new-crop start to arrive in the UK, according to Promar International.
Prices are about 136/t ex-dock and another 8 drop over the summer is in the pipeline, says the companys Derek Gardner.
“This is about 40-45 off the peak last winter, as new crop from South America is coming in and the Brazilian harvest is about to get under way.
“Soya is the market leader and other proteins tend to follow suit,” he adds.
“Oilseed rape meal for the summer is about 85/t ex-dock, and 5 cheaper for the winter.”
Charles Waldron of Mole Valley Farmers agrees that prices have come back from the highs, as is usual for the time of year, but reckons there isnt much downside left in the market.
“Supply is generally greater than demand going into the summer, leading to a drop in value. But now is the time that farmers should start looking for cover as prices may not decrease much more.”
GM-free soya is at a 12-15/t premium and demand has increased, adds Mr Waldron.
“However there is still uncertainty about the its source, with regard to shippers bringing it to the UK. Unless they can be sure that the demand is there they wont buy it.”
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