As we move into the Spring we are starting to see ingredients coming off the highs, however availability still remains an issue on some products.
Looking at forward prices, Rape Meal is becoming particularly attractive on the new crop, trading at only £10 per tonne above this year’s low.
New crop Sugar Beet is also attractive and again is only trading £10 per tonne above this year’s low.
Old crop Wheat seems to be becoming readily available with more offers, however barley is increasingly more difficult to buy.
The pound has weakened slightly, off the back of raised concerns of a third wave of COVID-19 in the U.K and Europe which is keeping Soya prices slightly inflated.