KW FeedCast - 25 April 2023

The latest episode of FeedCast is brought to you by James Barker, our Raw Materials Buyer and Laura Wildash one of our Sales Traders. As usual they will be providing an outlook on the protein, mid protein and cereal markets. 

They start with discussing the situation in Ukraine as the grain deal is coming to an end on the 18th May. With various meetings happening between United Nations and Russia this week, it is expected that the volatility will continue and that the 18th May will be a key date to look out for. 

Looking at starch based products or any products priced using Wheat futures, now could be a good time to start looking at forward cover – something to note that May pricing will go off the board so the focus will be on the November futures and pricing backwards. This is as good an opportunity that we have seen as these futures keep coming back but are supported at these levels with the difficulty of cost of production. It is a good time to be adding to your cover for summer but equally as important to be looking at your forward cover into new crop and next winter as there is still plenty of volatility within the market. 

Moving onto proteins, there is still an extremely low crop in Argentina in contrast to the excellent crop in Brazil meaning prices are still very volatile ranging from mid 450-470 for the summer. Prices on Soya are still looking high, however there are good opportunities on other products such as Rapemeal, particularly on nearby Rapemeal and Distillers as there is a higher level of availability. It’s worth looking at spot loads for May, June and July sooner rather than later due to potential summer shut downs, its also a good time to consider taking full cover for the first half of the summer if Rapemeal is your preferred option. 

Alongside Rapemeal, there is very good production of distillers at Vivergo. Volume is now available and looks good value against other proteins with summer prices being in the late 290’s ex hull.  

Novapro sales continue to be fantastic, however, again it is worth keeping in mind the summer shutdowns if you are looking to book. 

As always get in touch with your sales representative or contact us in the office if you have any queries. 

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Please note: The information provided during this podcast has been prepared for general informational purposes only and does not constitute advice. The information must not be relied upon for any purpose and no representation or warranty is given as to its accuracy, completeness or otherwise. Any reference to other organisations, businesses or products during the podcast are not endorsements or recommendations of AB Agri or its affiliated companies. The views of the presenter are personal and may not be the views of AB Agri. The contents of this podcast are the copyright of AB Agri.