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27 June 2024: Action replay


No big news this week, sweet whey unchanged but skim milk up €20. 

 

What is striking is the overlay of 2024 prices largely blanking out last year’s for both products





 

Nothing fundamental has changed, sellers are still strong, no discounts, but wheat gluten is back to full supply with no weakening in price. 

 

Other noteworthy markets are crude oil and wheat, which has plunged 22% in the past month in the US, on increased crop forecast, but globally the figure has decreased, with Russia reducing by 5mt and Ukraine by 1.5mt, due to the cold wet spring. Maize is down by half that amount and soybeans by 5%. Crude oil is still holding in the $80s, supporting both soy oil and palm.


BDC agri is the UK broker for Lacto Production milk and whey powder products.


For further information and prices, contact Greg Dunn on 01206 381521 or g.dunn@blackdiamondcommodities.com



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