In 2024, grain prices generally increased from March to the end of May and declined from June to the middle to the end of August.

Since then, prices have been up and down. However, at the end of December, European prices are lower now than they were at the beginning of the year.

Many factors affected markets throughout the year, from war to weather and logistics.

When prices spiked in May there were concerns over rainfall levels in Russia and maize planting progress was behind in France.

The Irish Farmers Journal was in the US at that time and market analysts said it seemed like a time to consider selling and expected the rise in prices to be short term, as the market was dependent on weather, which was subject to change before the main crops were harvested.

For this edition of Grain Trends, we take a look at some of the high and low prices of the year.

Spot wheat and barley

We report on price indications for dry wheat and barley throughout the year.

The spot barley price started off the year at approximately €224/t. The lowest barley price reported in the year was €195/t at the end of February and into March, while the highest price was €235/t at the end of May.

In December, the barley price was on the way back up at €230/t.

The spot wheat price started the year off at approximately €232/t.

The lowest price reported during the year was €205/t in March, while the highest price was reported to be reaching €250/t in May.

In December, the price had come back up to €245/t.

European wheat

Matif wheat for December, the price that some use as a gauge for the Irish harvest price, began the year at €234.75/t on 2 January. It hit its lowest price on 6 March at €204.25/t.

It peaked for the year on 27 May at €274/t. On 26 August, it hit another low of €205.25/t. On its last day of trading, it closed at €220/t on 9 December.

Oilseed rape

The French oilseed rape price for November 2024 started off the year at low levels. On 2 January, the price was €435.75/t. That price dropped until 26 February when it hit €414.75/t.

The price climbed until 5 July when it reached €514.50/t. The price dropped back down then. It went to €449.75/t on 6 August. The price then climbed to €514/t on 30 October.