Feed Outlook* – Mar 2018

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Soyabean pods ripening

With a reduced Argentine soyabean crop lifting protein feed prices, there’s a focus on forward cover to manage risk for both summer and winter requirements.

Chinese soyabean demand continues to rise and the balance between supply and demand remains tight. Recent years have seen a growing reliance on record or near-record soyabean crops, and any shortfall will affect markets strongly.

UK rapemeal supply also typically tightens in spring – increased sheep feed demand – and it’s still unclear when British wheat distillers’ feed will be available again. So look for opportunities to take additional protein feed cover over the coming weeks, particularly in any price dips that appear.

Key facts & figures:

  • UK soyabean meal prices up more than £40/t since mid-February

  • Argentine soyabean crop estimate down to 45mt1 from high of 53mt1

  • US soyabean crop area predicted to drop by 1 million acres

  • Brazilian soyabean harvest progressing well at more than 35% complete

  • SoyPass and ProtoTec savings equate to £50/t or more over soyabean meal

  • Spey Syrup, ReguPro50 and ReguMaize44 great options for rumen protein

1 million tonnes

* Prices correct at the time of writing and subject to change. Unless otherwise stated, all prices quoted are for 29t tipped bulk loads delivered on-farm within 50 miles of origin.

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