Grain markets were characterised by falling prices over the past week. International prices were affected by ongoing harvest pressure in the northern hemisphere, higher forecasts for Russian export potential and more favourable weather conditions for the potential of the US maize and soya bean crops. Early maize yields from Ukraine suggest a big harvest there with the probability of higher exports.

Rape prices were also under pressure within the oilseed complex, where better prospects for soya beans was having a major effect.

However, overall demand for this crop continues to consume production and rape prices had picked up somewhat this week.

Dry rape for next harvest is still attracting around €380/t, but spot prices are closer to €367/t. The fate of the Canadian crop may still have an effect.

Price trends have seen average UK ex-farm wheat price drop by £4.20/t in the past week to £130.40/t, with feed barley back to £116.90/t, according to the AHDB.

Feed wheat price is moving further below bread wheat, which is increasing the premium for milling.

Feed wheat delivered Belfast is down £1.50/t to £158.50/t, according to the AHDB.

There are no feed wheat prices for Scotland yet, as harvest there is only just beginning.

Native prices are back once again, with spot wheat to the trade now in the €166 to €168/t bracket, with barley at €156 to €158/t. November prices are about €2/t higher and May quotes are currently about €175/t for wheat and €165/t for barley.