Straights value sees huge rise
Straights value sees huge rise
STRAIGHTS values have soared over the past fortnight.
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market is being underpinned by strong world demand as Asian economies recover, and a major Brazilian shipper has also withdrawn supplies.
Taking cover through to April should avoid further price rises, he adds. But farmers should check with their milk buyer over the GM issue before buying for next winter.
"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 rise in soya values is the result of increased buying by China and fund buying in the US.
Reports state that China is looking to buy 4m tonnes of soya this season. *