Grain values slid last week on most markets with the fundamentals of a well-supplied market acting against a lack of supportive news. LIFFE March wheat lost £6.20 on the week to close at £122.10 (€162) while MATIF March dropped by €10 to close at €185.50. Over the month of January the London contract is down £9.60 while Paris is off by €9.50. Front month MATIF corn is down €3/tonne in the month. Soya bean values were also down on both the week and the month with the monthly drop being 4% in the case of beans while front month meal fell by 6.4%. However the firming US dollar/Euro exchange rate will have cancelled out these reductions and resulted in a rise over the month in € terms. Excellent growing conditions in Sth America prompted Allendale, an industry commentator to forecast that November 2015 soya bean futures will hit $8/bushel. That is a 17.6% reduction on Fridays close (9.72/bu) and would be the lowest seen since late 2008. $/€ exchange rate movements in the coming months will dictate how that affects imported soya values in our market.
Provergo Wheat Distillers
DM 92%, Protein 32%, ME 12.6MJ/kg, Oil B 6.5%, Fibre 7.5% –all fresh wt basis
I am offering May-Sept and Sep 15 – Apr 16 ex New Ross and Edentubber.