Wheat

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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

07/12/16

EU grains closed mostly higher on the day. Rapeseed slipped from it's 2 1/2 year high on weaker Malaysian palm oil.

At the finish Jan 17 London wheat was up GBP0.60/tonne at GBP135.80/tonne, Dec 16 Paris wheat was EUR2.50/tonne higher at EUR162.00/tonne, Jan 17 Paris corn ended EUR0.50/tonne firmer at EUR163.50/tonne and Feb 17 Paris rapeseed closed EUR2.00/tonne easier at EUR412.00/tonne.

Palm oil was lower in Malaysia on profit-taking and with no major demand festivals coming up. Still, it's too early to day that the bull trend appears to be over. One analyst today raised their forecast for crude palm oil prices from 2,450 ringgit to 2,725 (+11%). They cite the strong US dollar, low stock levels and the effects of the US bio fuels mandate as well as the seasonal low production cycle in Q1 of 2017.

Talk persists that French growers might end up planting 5% more wheat for 2017 due to failed/never planted autumn rapeseed.

French wheat exports to non-EU destinations in October were poor at 293,000 MT versus 348,000 MT in September (-16%). This was also the lowest October volume since 2007. Season-to-date non-EU exports are 32% lower at just 1.8 MMT from what is usually the bloc's largest foreign seller.

Total October French wheat exports, including those within the EU, were down 31% at 685,000 MT.

French wheat imports in October on the other hand more than doubled to 192,000 MT, taking the season-to-date total to 435,000 MT. Bulgaria was the largest supplier in October with 131,000 MT.

Ukraine said that they'd exported 18.8 MMT of grains so far this season, including 10.2 MMT of wheat, 4.6 MMT of corn and 4.0 MMT of barley.

The Russian Ag Ministry said that this year's harvest in bunker weight was 125.1 MMT so far off 97% of the planned area. They now foresee a final clean weight harvest of 117.5-118.0 MMT, using around a 6% reduction for cleaning/screening. That would potentially give them a wheat crop of around 71.5 MMT in clean weight and see barley production at around 18 MMT (USDA 72 MMT and 18 MMT respectively).

IKAR said that Russian November wheat exports were a record high for the month at 2.7 MMT.

CBOT Comments

06/12/16

Beans closed higher, there was no "Turnaround Tuesday" today even if we did finish well off the intra-day highs. The USDA announced the sale of 198,000 MT of US soybeans for delivery to China during the 2016/17 marketing year, along with 246,000 MT to "unknown" and 132,000 MT to "unknown" for delivery during the 2017/18 marketing year. Stats Canada released a Canadian soybean production estimate of 6.46 MMT against the expected 6.2 MMT. European rapeseed prices are hitting 2 1/2 year highs on tight availability and already early concerns over plantings for 2017. Brazilian weather conditions look very good, Argentina less so. Brazil is 90% planted versus 88% last year and 80% on average at this time. The Argentine weather service is saying there's a high probability of Dec/Jan/Feb being drier than normal in central areas and Buenos Aires province, with temps normal to above normal. Jan 17 Soybeans closed at $10.47 3/4, up 4 1/4 cents; Mar 17 Soybeans closed at $10.57 3/4, up 4 1/2 cents; Dec 16 Soybean Meal closed at $320.20, up $2.50; Dec 16 Soybean Oil closed at 37.62, up 13 points.

Corn: Corn closed with small gains. The USDA reported sales of 276,000 MT of corn for delivery to South Korea during the 2016/17 marketing year under the daily reporting system. Stats Canada came out with a Canadian 2016 corn output estimate of 13.19 MMT versus the expected 13.1 MMT and compared to 13.56 MMT in 2015. Net US ethanol exports set an all-time record for the month of October and were the highest single month net export volume in 5 years at 122 million gallons the month before last. This was led by big sales to Canada and Brazil in the amounts of 35 million gallons and 43 million gallons respectively, reported FCStone. US DDG exports for October were slightly above the volume in September at 1.005 MMT. China continues to be a small customer compared to past years with only 124.7 TMT for the month, they add. Argentine weather remains a concern, although early calls on production are around 25-27% higher due to a sharp increase in plantings. Romania reported that it's 2016 corn harvest was down 5.6% on last year at 8.47 MMT due to a dry summer. In Russia, corn harvesting is 85.8% complete at 14.6 MMT. Dec 16 Corn closed at $3.51, up 1 1/2 cents; Mar 17 Corn closed at $3.60 1/2, up 1 1/4 cents.

Wheat: The wheat market closed mixed. Stats Canada put total Canadian wheat production at 31.7 MMT on a national average yield of 53.2 bu/acre. The trade was only expecting production at 30.7 MMT. This is also now 200,000 MT higher than the USDA's November estimate. ABARES ahev the Australian crop at 32.64 MMT versus the USDA’s 28.3 MMT estimate in November. Ikar cut their Russian wheat export forecast from 29 MMT to 28.5 MMT (USDA: 30.0 MMT) citing unfavourable weather and its impact on logistics, and intensified competition. "When the USDA first posited the export number for Russia it said it was a very aggressive number that required near perfection to achieve," said FCStone. Tunisia were said to have bought 117,000 MT of soft wheat for Jan/Feb shipment in a tender, along with 55,000 MT of feed barley, both of optional origin. Traders surmise that the wheat may have been most likely of Argentine or Russian origin. China only sold 15% of the 2.8 MMT of wheat reserves offered up for sale at auction. Jordan were said to have bought 50,000 MT of milling wheat of optional origin in a tender. Dec 16 CBOT Wheat closed at $3.89 1/2, up 1/4 cent; Dec 16 KCBT Wheat closed at $3.87, down 3 1/4 cents; Dec 16 MGEX Wheat closed at $5.38 3/4, up 1 1/4 cents.

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