Large feed bean crop to put prices under pressure

Feed beans continue to trade at a high premium to feed wheat, fetching about £235-242/t delivered, but there is uncertainty about price prospects for the coming months.

“The crop is believed to be significantly larger than the 2012 harvest, but not knowing actual availability on farm means there is considerable uncertainty as to where the market will go,” said a report by BEPA and PGRO. “With the human consumption market currently full, a downward trend in value seems inevitable – especially for samples that have lost their bright, pale appearance.”

Exports of beans for human consumption had been buoyant, with more than 150,000t shipped of the 240,000t predicted surplus for the season. However, the market was now quiet, although premiums remained at £10-12/t over feed beans.

Good-quality marrowfat peas were holding their value, at about £350/t, with top-quality samples commanding premiums of up to £40/t, said the report. Micronising peas were fetching up to £330/t, although an influx of poorer quality samples had dragged overall values down, with feed peas priced at £230/t.

“Peas from 2014 will continue to have a good market and value, as it seems likely there will be minimal carry over. Buy-back contracts and seed remain available.”

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