By FWi Staff
TRADERS expect little improvement in the near future for soyameal prices – now 100/tonne lower than last year
Soyameal is selling for 121/tonne. An estimated 29.5 million hectares of soya is maturing at present in the USA, with as much as 65% in good or excellent condition.
“There will be no shortage of soya in the coming year, and this will hold prices down,” said Charles Delf of KW Agriculture.
“Prices are unlikely to fall much further, although if the Pound weakens there is a possibility prices could rise. Soya is a good buy at present and producers with purchases still to make should consider buying now.”
Charles Waldron of Mole Valley Farmers agreed that the market was flat at present. He blames the lack of activity in the market on the large US soya crop.
Forward buying of straights is slow as supplies are likely to be bought at a flat rate for the winter period, explained Martin Douglas of Cargills.
“At price levels like these the farmer cant go wrong in buying straights for the winter, as feed materials are excellent value for money,” said Mr Douglas.
“It is possible to buy high-quality products for good prices. However, it would be advisable not to cover all feed requirements and leave space for opportunities later on.”