Grain prices have generally dipped back since last week to below the levels of previous weeks. That said, they have moved in both directions since then in response to varying weather events in different parts of the world. This generally involved rain in the dry regions and a July forecast of cooler growth conditions for US maize and soya beans.
Grain prices have generally dipped back since last week to below the levels of previous weeks. That said, they have moved in both directions since then in response to varying weather events in different parts of the world. This generally involved rain in the dry regions and a July forecast of cooler growth conditions for US maize and soya beans.
The recent market drive was, and is, for quality milling wheat. Early indications from the French wheat crop suggest good quality but it’s early days yet. Good French wheat quality reduces the pressure on US quality wheat exports which looks set to be scarce. Yield prospects from the French crop appear to be considerably less optimistic following the prolonged dryness.
Maize prices have weakened in response to rain plus a rain forecast without too much heat during the critical corn silking stage. This is putting pressure on all feed grains including wheat. Winter barley harvesting is now under way in many European countries. Rape prices have also weakened in recent weeks. The falling price for soya beans, which are expected to be in big supply, is an important factor. Native prices are generally back this week, with spot wheat in the €180+/t bracket, but barley is back towards €162 to €165/t as harvest is now under way. November wheat is at €172 to €175/t, back from a peak of €181/t last week. New-crop barley to the trade is back around €162 to €164/t. Looking into next year, May prices are around €178/t for wheat and €167/t for barley.
This is a subscriber-only article
SHARING OPTIONS: