Grain markets in Europe and the US are positive at present and wheat prices have increased significantly.Prices were on the rise for wheat. The French wheat price for December increased by €6.25/t last week to €239/t. By Tuesday evening, it had increased to €241.50/t.
Grain markets in Europe and the US are positive at present and wheat prices have increased significantly.
Prices were on the rise for wheat. The French wheat price for December increased by €6.25/t last week to €239/t. By Tuesday evening, it had increased to €241.50/t.
The World Agricultural Supply and Demand Estimates (WASDE) report came out on Tuesday 11 February.
In the report, the United States Department of Agriculture estimated that global wheat supplies are slightly larger based on higher production in places like Argentina.
World trade declined, according to the report. Export reductions were reported for the EU, Mexico, Russia, Turkey and Ukraine.
The global outlook for coarse grains such as maize and barley in 2024/2025 is forecast down 1.8m tonnes to 1.492bn tonnes.
The report suggested that the outlook for this month is for reduced production, trade and ending stocks. Maize production is estimated down in Argentina and Brazil due to dry weather and slow progress planting the second crop in Brazil.
Malting barley
This week, Boortmalt came out with a forward price of €230/t at 20% moisture content.
Growers can fix the price of their grain on 20% of their contracted tonnage.
Looking ahead to harvest prices, the premium is about €30/t over feed. That’s €20 to €30/t behind the malting barley premium paid last harvest.
Conditions may differ between merchants, so chat to your local representative for more information.
Oilseed rape
Oilseed rape prices were also up in recent days. The November price increased by €2.75/t last week and moved up significantly this week.
The November price saw a €5/t increase on Tuesday to close at €495.50/t. A rise in crude oil prices is helping prices, as well as an improvement in Canadian oilseed prices.
The soybean harvest is under way in Brazil and rain is slowing progress.
Rain in Argentina could impact positively on crops in the country.
In France, the winter oilseed rape area is now estimated to have declined by 4% from 2024, but is 6% above the five-year average. The soft wheat area is up 10% on 2024, according to the French agriculture ministry.
Native prices
Spot barley and wheat prices remain stable. Dried barley was reported at approximately €230/t to €235/t this week and wheat was reported to be up slightly at €250/t or under. November prices are about €5/t below this.
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