There have not been any more big price announcements for harvest 2024 since last week, and Quinns payment of €190/t for green barley and €200/t for green wheat.
Last week saw a lift in wheat prices in Europe, the UK and the US. On Wednesday of this week, prices started to move up again after a slight drop.
A combination of dry weather reports in the US, Russia and Argentina and escalations in the Middle East likely contributed to this. There were also concerns over grain coming from the Black Sea, with reports of vessels being hit by missiles in the port of Odessa according to Reuters.
On Wednesday of last week, the December Matif wheat price hit €233.75/t. On Tuesday of this week it was gone back down to €229.75/t. On Wednesday afternoon it moved to €234/t.
Maize prices also moved similarly, with the November wheat price moving to €216.25/t on Wednesday 2 October and on Wednesday 9 October it was at €215.50/t.
European yields are reported to be poor, while tight stocks are expected in the US.
The US maize harvest was 30% complete on 6 October according to the crop progress report, and the majority of crops are mature. The US Department of Agriculture will release its World Agricultural Supply and Demand Estimates (WASDE) report this week, which will give an indication of where supplies are.
European weather
Agritel reported that stormy weather in France was delaying the maize harvest. Sunflowers are also still to be harvested, with bad weather on the way. That bad weather is also delaying winter cereal planting which is a concern for farmers, but is also raising concerns around grain supply.
Oilseed rape
Oilseed rape prices increased last week. The French price for November increased by €14.50/t to €480.25/t last week. On Monday evening that price moved to €490.50/t and on Tuesday evening it moved back to €484.50/t. On Wednesday afternoon that price had moved up to €487.75/t.
Rising palm oil prices as well as rising oil prices were likely contributing to this price. US soybean prices were increasing on Wednesday afternoon as well.
Native prices
At home, dried spot barley is reported to be trading from €215-220/t, while dried spot wheat was at about €230-235/t. Maize was still reported at €230/t. Soya was reported at €430/t.
If you have been paid by your merchant let us know the price and details like moisture bonuses and deductions by emailing tillagenews@farmersjournal.ie.