Feed markets have been fairly quiet as carryover or stocks held from last season have meant consumers have not needed to be particularly active through the summer months. This also applies to milling buyers as they will tend to buy enough satisfactory old crop wheat while new crop qualities are evaluated. The majority of Organic cereal cropping tends to be spring sown, so domestic new crop supplies are limited until well into September- this season will be no exception. There has been good forage (Lucerne) demand through summer as grazing became limited during the drought seen back in May and late June/July.
With the rain delayed 2020 harvest seen in some regions, and perhaps a mixed quality picture now emerging from those crops still in the field, buyers are able to be relatively relaxed until samples are seen. We have also been aware that forward ruminant feed sales have been slow, and with the additional variables of Covid and the protracted Brexit talks in play, we feel that buyers will tend to remain cautious. Cereal values have been kept in check by aggressive offers of new crop imported grains and peas from export led origins, and premiums for wheat in particular have been weak.
Soya supplies since spring have been severely disrupted by Covid outbreaks at source, along with some logistical issues with shipping lines which has resulted in some uncertainty that previously contracted consignments will arrive.
