By FWi staff
WITH straights prices continuing to ease, industry advice has changed as farmers are encouraged to take some winter cover now.
Home-produced rapeseed meal has eased further over the week falling £2 to £76/t and while rape continues to fall many believe values may be close to the bottom.
Ian Tremain of Mole Valley Farmers advises those looking to buy should never purchase all on one day. “Prices might bounce tomorrow or dive,” he added.
Mr Tremain believes farmers should take some proportion of winter cover now but said that he certainly wouldnt take all requirements at these levels.
Soya bean meal hi pro inched up £1 to £124/t over the week while Brazilian 48% pellets and meal rose £2 to £118/t.
However, it is not uncommon at this time of year to see short price fluctuations. It is traditionally a critical time for the development of the crop, said Mr Tremain.
Soya prices are now at near 27-year-lows and another bumper crop is expected this season.
Prices are likely to remain low although there is a limit to how much more they can go down before shipments are stopped.
Although there is a premium on winter soya deliveries, Mr Tremain believes this will slowly disappear.
Despite a shipment of imported maize gluten a fortnight ago, prices have firmed on the back of strong demand.
Traders are saying that shippers are keeping prices deliberately high as imported pellets and meal climbed £7 during the week to £88/t.
Other price movements in the week included citrus pulp which rose £4 to £95/t and palm kernel expell meal, malindo fell £2 to £79/t. Wheatfeed pellets inched up £1 to £71/t.