We are seeing increased activity for purchases of Nitrogen products due to the potential risk of a NO DEAL affecting the strength of £ versus $/€. This is putting pressure for firmer prices on UK Nitrogen.
We have only seen a £5 increase in CF Nitram form the starting price in June, compared to Europe which has increased by @ £25. Some 90% of our products have been purchased before the significant devaluation of the £, therefore buy now before the increases that will have to be met. On this basis we would advise growers to purchase as much as fertiliser requirements as possible for delivery before the end of October.
27N + 12SO3 & 26N + 31SO3 Compounds & Phosphate pluS
With decisions being made on drilling of Oilseed Rape, the demand for NS grades are increasing as well as phosphate pluS with its proven advantage over the standard DAP. Please note both DAP/TSP prices will increase with the poor exchange rates.
MOP/Potash pluS & PKs
MOP prices have moved up by £15/20/t due to the poor exchange rates. Subsequently all PK products needed for the autumn seed bed will see significant increases in price. At present we have moderated the increases for the short term.
Proteins- Soya prices continue to stay in the same small range. US dryness has firmed the market with a potential threat to yields if it is sustained, however, China this week have publicly announced the ‘ending of purchases of US Ag products’. If this is the case, it could have a huge impact on US export programmes and will mean they will have to price themselves for other homes. Chinese swine flu continues, reducing their need for soya. Funds are still net short of beans and meal. The biggest issue preventing us from seeing lower prices is the currency which is still around 1.21 against the dollar.
Rapemeal prices are continuing to creep upwards as anticipated. This week the EU rape harvest projections have been cut again and now currently stand 20 MMT lower than last years.
Energies/Fibres- Imported sugarbeet continues to look better value for the winter than soya hulls. Ground Maize has come back slightly this week for the winter at sub £200 on farm for an artic load.
Fats and Minerals- Bartholomews can offer our own bespoke mineral range as well as other traditional straights such as limestone flour, Sodium Bicarb and Urea.
We also have C16 and Calcium Soap products available. These products are priced extremely competitively against other branded equivalents and with current high feed costs, these products begin to look more appealing.