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When you buy our quality cooked ingredients, you will enjoy the UK's most comprehensive range of Micronized Cereals, Pulses , Full Fat Soya's and straight ingredients, be it for Ruminant, Equine NOPs , Monogastric Diets or Companion Animals. As again we move into volatile markets, with much uncertainty, risk management is key. Let us manage that with bespoke contracting arrangements.

What is Micronizing

Micronizing is the name given to a cooking process that uses infrared rays to cook cereals,pulses and oilseeds at lower temperatures and for shorter times than other heating methods.

Quality

MMF deliver consistently high quality products to exacting specifications. The development, maintenance and revision of quality testing procedures ensure that all products continue to exceed expectations!

Crops to Cash

Masham Micronized Feeds is committed to helping our local economy. We buy as much raw material as we can direct from local farms through our crops to cash sceme.

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Queen's Award For Innovation

Masham Micronized Feeds' development, production  of the internationally acclaimed Speedi Beet was awarded the Queen's Award for Enterprise in the Innovation category 2008.

The patented process used to produce Speedi-Beet turns beet pulp into a convenient, nutrious quick-soaking flake, which can absorb up to five times its weight of water in under 10 minutes. Sold by the division British Horse Feeds in over 30 countries on five continents www.britishhorsefeeds.com

Futures Market

LIFFE/Euronext

London Feed WheatParis Milling WheatParis CornParis RapeseedMalting Barley

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CBOT (Day)

SoybeansSoymealSoyoilCornWheat

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eCBOT (Night)

SoybeansSoymealSoyoilCornWheat

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Energy/FOREX

NYMEX Crude OilGBP/USD

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EU Wheat Comments

29/09/16

EU grains closed mostly higher, but still largely trapped in a sideways move. Nov 16 London wheat staged it's best close in more than a month helped by sterling weakness.

At the close Nov 16 London wheat was up GBP0.80/tonne at GBP127.00/tonne, Dec 16 Paris wheat was EUR0.75/tonne higher to EUR161.75/tonne, Nov 16 Paris corn was EUR0.50/tonne firmer at EUR160.50/tonne, Nov 16 Paris rapeseed was EUR3.00/tonne better at EUR376.75/tonne.

Brussels approved 468 TMT worth of soft wheat export licences this past week, taking the season so far total to 6.35 MMT, a 23% increase on this time last year (although note that the rate of increase was 25% just last week).

Barley exports at 8 TMT were less impressive. The season to date total for those is only 1.19 MMT, some 65% less than this time last year.

The growing theme for the global wheat market is one of rising production (although not here in Europe), but not necessarily for quality milling wheat which many think could be in a shortage situation this year.

Underlying this theme, the IGC today raised their forecast for the 2016/17 global wheat crop by 4 MMT to 747 MMT. "The outlook for wheat is again cut for the EU, but this is outweighed by increases for Australia, Canada, China and Kazakhstan," they said. Carryover stocks were increased 2 MMT to 231 MMT.

The EU-28 soft wheat crop was placed at 143.6 MMT, down from 145.2 MMT previously and down 10% versus 159.8 MMT a year ago. EU-28 ending stocks were cut from 13.2 MMT to 11.6 MMT (15.5 MMT a year ago).

The head of the Russian Grain Union estimated grain production in bunker weight there this year at 124 MMT (or 115 MMT in clean weight). The clean weight total will include 72,5 MMT of wheat, he said. Grain export potential in 2016/17 was pegged at 30 MMT. Whether they achieve this potential is another matter however. Cumulative exports so far are 7% below year ago levels.

The Russian harvest officially stands at 100.4 MMT (89.4% done) in bunker weight, including 74.6 MMT of wheat (95.7% harvested), 18.7 MMT of barley (95.4%) and 3.2 MMT of corn (21.2%). Plantings for the 2017 harvest are said to be 64% complete on 11.1 million ha.

Ukragroconsult said that the pace of Ukraine autumn/winter planting is behind both last year and the 5-year average due to dryness in parts of the country. According to the government growers there will plant 7.37 million ha of winter grains (mostly wheat) and 724k ha of winter OSR.

They also peg Romania's corn crop at 8.1 MMT, down 850 TMT on their previous estimate due to long-term drought.

CBOT Comments

29/09/16

Soycomplex: Beans closed higher helped by strong weekly export sales of 1,692,800 MT for 2016/17 being reported for China (833,600 MT) and unknown destinations (528,800 MT) among others. Trade estimates were for sales of 1.0 and 1.4 MMT. In addition, there were also sales of 120,000 MT of soybeans for delivery to China during the 2016/17 marketing year announced under the daily reporting system. The IGC raised their forecast for the global soybean crop by 4 MMT to 329 MMT, essentially due to increased production in America (now seen at 113 MMT). World ending stocks were however lowered 2 MMT to 29 MMT. Abiove estimated Brazil's crop at 101.3 MMT, with exports at 57 MMT. The USDA are 100 MMT and 58.4 MMT respectively. The USDA's quarterly stocks report tomorrow could provide further direction in this market which is trying to balance strong demand against record US production. Nov 16 Soybeans settled at $9.50 1/4, up 4 3/4 cents; Jan 17 Soybeans settled at $9.56 1/4, up 4 1/4 cents; Oct 16 Soybean Meal settled at $297.90, down $1.80; Oct 16 Soybean Oil settled at 33.09, up 45 points.

Corn: The market closed around unchanged levels. Weekly export inspections of 575,000 MT were reported for 2016/17. That was at the low end of expectations of 0.5 to 1.0 MMT. Exports of 1,261,500 MT were reasonably robust however. The IGC cut the world corn crop by 3 MMT to 1027 MMT where "overly dry weather has affected crop prospects in the EU and China". They cut the EU to 59.5 MMT from 61.6 MMT previously, but still up from 58.2 MMT a year ago. China was lowered 2 MMT to 217 MMT. World ending stocks were down 2 MMT to 216 MMT. China offered another 4.7 MMT of reserve corn but found hardly any interest. Russia said that it's 2016 corn harvest was 21.2% complete at 3.2 MMT in bunker weight. Ukragroconsult lowered their forecast for Romanian corn production by 850 TMT to 8.1 MMT due to long-term drought. The size of the already large spec fund short in corn is a downside limiter for now, Tomorrow's stocks report isn't thought likely to be a "game changer" for corn, but you just never know with the USDA. Dec 16 Corn settled at $3.29 1/4, unchanged; Mar 17 Corn settled at $3.39, also unchanged.

Wheat: The wheat market closed mixed. Weekly export sales of 570,800 MT for delivery in marketing year 2016/17 were up 2 percent from the previous week and 20 percent from the prior 4-week average. That was in line with trade estimates of 400,000 MT and 650,000 MT. Exports of 843,400 MT were a marketing-year high, up 53 percent from the previous week and 36 percent from the prior 4-week average. Japan also bought 125,800 MT of US/Canadian wheat in their regular weekly tender. There's some talk that wheat stocks could be lower than many in the trade anticipate in tomorrow's report due to increased wheat feeding as the wheat/corn price differential is relatively narrow. The average trade guess for stocks tomorrow is 2.438 billion bushels. There's increased talk of crop losses/quality damage to Australian wheat due to frost in the west and excessive wetness in the east. The IGC raised their forecast for the 2016/17 global wheat crop by 4 MMT to 747 MMT. Carryover stocks were increased 2 MMT to 231 MMT. Dec 16 CBOT Wheat settled at $3.99, down 4 1/4 cents; Dec 16 KCBT Wheat settled at $4.17 1/4, down 4 cents; Dec 16 MGEX Wheat settled at $5.09 3/4, up 1 1/4 cents.

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