It has been a somewhat quiet week on international grain markets but there appears to be a somewhat firmer tone to the market here. The IGC announcement that puts the harvest of 2017/’18 as the second biggest on record has had little bearing on markets here, at least for the moment. Currency continues to be a significant factor and harvest pressure in the US is hammering physical or cash prices there. US barge transport costs are also being hiked in this peak demand period.
It has been a somewhat quiet week on international grain markets but there appears to be a somewhat firmer tone to the market here. The IGC announcement that puts the harvest of 2017/’18 as the second biggest on record has had little bearing on markets here, at least for the moment.
Currency continues to be a significant factor and harvest pressure in the US is hammering physical or cash prices there. US barge transport costs are also being hiked in this peak demand period.
Native prices remain broadly similar to last week but there is still a generally firmer tone to the market here. Spot positions now effectively run through to December, with wheat in the €173/t to €175/t bracket and barley around €163/t to €165/t. As always, these are trade prices and a buyer purchasing for processing or feeding, rather than trading, will frequently offer a premium on these prices.
Further out prices remain largely nominal, with a suggested May wheat value at €180/t and barley at €172/t.
UK delivered prices showed no change over the past week but currency did have an impact at times. Feed wheat delivered Yorkshire is put at £149/t for mid October and £140.50/t delivered east Anglia. The AHDB did not show any price for central Scotland last week.
The average UK ex-farm price for wheat is put at £137.40/t (up £2.30/t) and barley is at £117.90/t (down £1.40/t). Belfast delivered wheat price was put at £159.50/t last Friday, up £1/t on the previous week.
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