Straights market waits for US soya harvest
By FWi staff
THE straights market is very quiet this week in anticipation of the start of the American soyabean harvest.
“There is no rush to buy – everyone is waiting to see what the size of the crop is going to be, hence prices have stabilised,” says Ian Tremain of Mole Valley Feeds.
Early estimates predicted the biggest-ever US soyabean crop, but strong demand from China and Asia has kept prices high, he adds.
“If the crop is as big as expected the market could ease back and we will start to see some buying opportunities, but not until late September and into October.”
Home-produced rapeseed meal has lost 2/t to 114/t. Soyabean meal, Brazilian 48%, fell 1/t to 173/t.
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