Wheat
US wheat futures rose dramatically last week. Ongoing severe weather in the key wheat-growing states is one of the main reasons for this rally. For example, recent snowfalls in North/South Dakota, Montana and Minnesota caused concerns over their ability to plant spring wheat.
Collectively, the main spring wheat planting growing states have recorded lower than average planting this year. As of the week ending 8 April, 2% of spring wheat was planted compared with 4% at the same stage last year, the AHDB reports.
Low temperatures are forecast to remain through April meaning that unfavourable conditions are likely to persist.
However, favourable winter weather in India, Russia and even parts of the US looks set to help planted wheat.
In Europe, wheat futures also rose last week reacting to US weather concerns. It may be of some consolation to Irish producers that in the UK, March rainfall was 10% above average (1981 to 2010) and spring planting is also behind, the AHDB reports.
Barley
Similarly to spring wheat, barley planting has fallen behind the 2013 to 2017 average of 12% usually achieved at this time of year in the US. Planting progress in the five barley-producing key states only reached 4% at the week ending 8 April, also below the 8% achieved last year.
Soya beans
Concerns in relation to China's response to the latest US tariff proposals by threatening retaliatory measures on key US imports including soya beans caused future markets to fall sharply. Both the tariffs announced by the US and China would affect trade worth $50bn, the AHDB reports.
However, this fall was partially offset by continued concerns from Argentina that output could fall below 37Mt, leaving the country facing the prospect of becoming a net importer for 2018/19.
On the Euronext exchange (MATIF) in Paris, maize, oilseed rape and wheat futures recorded marginal grains over the week.
Paris maize for delivery in November gained €0.25/t over the week to finish yesterday’s trade at €168.50/t.
Oilseed rape for delivery in November recorded a modest gain of €3/t to €353.00/t.
Wheat for delivery in December gained €3/t over the week to finish yesterday’s trade at €174.50/t.
Across the water, the Chicago grain market (CME) recorded strong gains across the board.
2018 futures now stand at $385.07/t and $200.33/t for November-delivered soya beans and December-delivered wheat, respectively, up $2.94 and $14.62 on last week.
Maize futures for December delivery were also up $1.18 to $162.98/t.
Read more
Another week of high market volatility
https://www.farmersjournal.ie/grain-markets-usda-plantings-report-and-china-trade-tariffs-drive-prices-upwards-359966
Wheat
US wheat futures rose dramatically last week. Ongoing severe weather in the key wheat-growing states is one of the main reasons for this rally. For example, recent snowfalls in North/South Dakota, Montana and Minnesota caused concerns over their ability to plant spring wheat.
Collectively, the main spring wheat planting growing states have recorded lower than average planting this year. As of the week ending 8 April, 2% of spring wheat was planted compared with 4% at the same stage last year, the AHDB reports.
Low temperatures are forecast to remain through April meaning that unfavourable conditions are likely to persist.
However, favourable winter weather in India, Russia and even parts of the US looks set to help planted wheat.
In Europe, wheat futures also rose last week reacting to US weather concerns. It may be of some consolation to Irish producers that in the UK, March rainfall was 10% above average (1981 to 2010) and spring planting is also behind, the AHDB reports.
Barley
Similarly to spring wheat, barley planting has fallen behind the 2013 to 2017 average of 12% usually achieved at this time of year in the US. Planting progress in the five barley-producing key states only reached 4% at the week ending 8 April, also below the 8% achieved last year.
Soya beans
Concerns in relation to China's response to the latest US tariff proposals by threatening retaliatory measures on key US imports including soya beans caused future markets to fall sharply. Both the tariffs announced by the US and China would affect trade worth $50bn, the AHDB reports.
However, this fall was partially offset by continued concerns from Argentina that output could fall below 37Mt, leaving the country facing the prospect of becoming a net importer for 2018/19.
On the Euronext exchange (MATIF) in Paris, maize, oilseed rape and wheat futures recorded marginal grains over the week.
Paris maize for delivery in November gained €0.25/t over the week to finish yesterday’s trade at €168.50/t.
Oilseed rape for delivery in November recorded a modest gain of €3/t to €353.00/t.
Wheat for delivery in December gained €3/t over the week to finish yesterday’s trade at €174.50/t.
Across the water, the Chicago grain market (CME) recorded strong gains across the board.
2018 futures now stand at $385.07/t and $200.33/t for November-delivered soya beans and December-delivered wheat, respectively, up $2.94 and $14.62 on last week.
Maize futures for December delivery were also up $1.18 to $162.98/t.
Read more
Another week of high market volatility
https://www.farmersjournal.ie/grain-markets-usda-plantings-report-and-china-trade-tariffs-drive-prices-upwards-359966
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