Soya prices drop after bumper US harvest

By FWi Staff

SOYA bean meal was the biggest mover in the straights market this week, with US soya harvests well under way, confirming all rumours of a record crop.

“The weather has been ideal for the soya crop in the States, and the rain expected before harvest never came,” said David Clarke of KW Agriculture.

“The harvest has been very early this year, and the crop is coming out too fast. This has been keeping the prices down. A further factor is that the original figures were underestimated.”

Soya bean meal Hi-Pro took the biggest fall of the week, dropping £3/t to £126.00/t, while Brazilian pellets and meal eased £2 to £116.00/t.

Most other commodities have remained stable this week, although maize gluten imported pellets fell £1to £71/t. Gluten has been relatively stable this season as shippers have sold a large proportion of their tonnage which has steadied the market, said Mr Clarke.

Distillers dried imported meal was the only increase, inching £1 to £90/t.

See more