GM worries boost maize prices

By FWi staff

MAIZE gluten values have been steadily rising in recent weeks on the back of fewer shipments.

The two main shippers have not had a consistent programmes due to the uncertainty of GM ingredients in animal feed and fears of unsold stocks, says David Clark of KW Alternative Feeds.

Home-produced meal climbed 4 over the week to 79/t and imported meal rose 2 to 86/t.

But with another ship due at the end of the month Mr Clark believes maize values have probably now reached the top and could even ease before the end of the month if the weather improves.

Soya hi-pro and Brazilian 48% pellets and meal prices have eased back 1 to 161/t.

Fund selling in the USA has helped values slightly, says Mr Clark. “And if the weather changes they could go back further although theyll (prices) will stay quite erratic.”

Rapeseed meal is also lower on last week dropping 3 to 101/t reflecting a fall in demand.

Forward buying continues to be slow. “Farmers are not committing themselves to any more financial outlay,” says Mr Clark.

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