Feed Outlook* – November 2018

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Pouring wheat grain image

Lower global wheat production means world stocks will fall, but the end of bioethanol production the UK is reducing domestic demand and prices have yet to lift.

Those without good energy feed cover for the winter should be watching closely for opportunities to secure required contracts. If Russia restricts exports to manage lower crop yields, markets may react, and the Australian and European crops have also been affected by poor weather.

UK mid-protein supply also reduced (Vivergo wheat distillers’ feeds totalled 250,000t/annum). However, rapemeal prices have improved, and liquid feeds like ReguPro 38 and Regumaize 44 are worth considering as alternative sources of rumen degradable protein.

Key facts & figures:

  • Russian wheat harvest harvest 15mt1 below last year, Europe down 13mt1

  • USDA2 estimates 731mt1 world wheat harvest versus 759mt1 in 2017-18

  • Global year-end stocks (excluding China) to drop from 148mt1 to 124mt1

  • Prices for wheatfeed and soya hulls down, a good opportunity to buy

  • SweetStarch and SugarRich Dairy better balance of energy than cereals

  • For rumen-bypass protein, NovaPro much better value than soyabean meal

1 million tonnes
2 United States Department of Agriculture

* 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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