Real Time View of Feed Wheat Price

UK - A new section on feed grain prices - vital for producers - has just been added to the BPEX website.
calendar icon 10 November 2008
clock icon 3 minute read

The section is the result of collaboration between BPEX and HGCA - both now part of the new Agriculture and Horticulture Development Board.

It covers the futures prices for wheat, soybean meal and maize, all of which are updated hourly while the markets are trading. There are also graphs looking at longer term trends in feed grains plus the Brent crude oil prices which is closely linked to cereals and soya prices.

Economics Manager of Manager of AHDB Meat Services Joanne Knowles said: "For producers, wheat and soya are a major element when it comes to buying feed and this gives them a real-time view of what is happening to these prices.

"For example, if future soya prices are rising, a producer may decide to secure a proportion of his soya requirement now to tie in at a lower price, or he may want to look at alternatives to soya within the rations.

"However, it is important to remember these are futures prices rather than delivered prices to the farm which will usually be a bit higher." HGCA Director of Crop Marketing Alastair Dickie said: "Spot prices have dropped back from the highs but it is still a volatile market and is likely to stay that way so this will give producers the best chance to manage their feed costs effectively."

Yorkshire pig producer Richard Longthorp said: "With the recently updated and upgraded website, BPEX is now matching with their web presence what the KT team have been achieving in "the field" - short, sharp, meaningful information and data that we can all use to improve our businesses.

"The recently included Feed Market Update is a good example. Now not only can all those important prices can be viewed in one place but also the impact on COP can be seen at a glance.

"With historic and future prices all quoted we can never claim to be short on information - though looking back to Nov 2005 may not be the best way of treating a receding hairline - wheat at 368 a tonne, soya at US$192 and crude at US$58 a barrel!"

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