This is a subscriber-only article
Grain markets have been largely flat over the past week, as there has been nothing to support price increases and maize continues to weaken on the back of the high output forecasted.
US wheat started this week where it finished a week earlier, but it had been much lower in the interim.
Chicago December wheat opened this week around $5.15/bu (€162.7/t), but it had dropped to $4.96/bushel (€156.70/t) last week.
MATIF wheat for December closed last week the same as the previous week at €197.75/t.
Chicago December maize futures fell to their lowest level for months to trade below $3.50/bu (€118.50/t) at the start of this week, back from $3.67/t (€124.20/t) a week earlier. MATIF maize also weakened to open the week at €177/t.
Native prices
Native prices continue to operate at two levels – the trade price, which is where product is sold to the big mills, and the higher merchant price, which businesses paid to secure grains during harvest.
But dry prices have since weakened, as both price levels come closer together.
Dry wheat remains in the €215 to €218/t range, but it is difficult to find a bulk buyer at these levels.
Barley remains stronger at around €220/t.
Some believe that these levels will harden when harvest pressure eases – others take a different view.
SHARING OPTIONS: