Wheat, maize and oilseed markets dropped over the past week, with uncertainty in the market. Many traders are looking at tariffs and how this might affect grain flows and availability.
Wheat, maize and oilseed markets dropped over the past week, with uncertainty in the market.
Many traders are looking at tariffs and how this might affect grain flows and availability.
Uncertainty often brings sellers to the market, whether that be when prices are falling or rising. In this case, they are falling.
The French wheat price for December closed last week at €236.75/t, down €5.50/t over the week. This is back to where prices were in early to mid-February.
That price dropped further this week and was at €231/t on Tuesday evening. Maize and oilseed rape prices were also down.
The US wheat price also dropped. The Chicago May price closed at 555.50c/bu on Friday, down 49c/bu over the week.
It fell further this week and it was at 541c/bu on Tuesday evening. Corn and soybean prices also declined.
UK wheat prices also dropped. Australian wheat production was estimated up by 2.2m tonnes.
Oilseed rape
The French oilseed rape price for November closed at €499.75/t last week. On Tuesday evening, that was at €486.25/t.
Soybean prices also declined. The soybean harvest is reported to be progressing well in Brazil.
Tariffs of 25% on goods entering the US from Canada and Mexico and a 20% tariff on goods from China to the US came into effect on Tuesday. China also announced tariffs, placing 10% to 15% tariffs on US agriculture exports.
The US exports large amounts of agricultural products to China and on the grain market, maize and soybeans are the main things to look at.
Reuters news agency reported that about half of US soybeans were exported to China in 2024. This may lead to US farmers changing planting decisions.
The United States Department of Agriculture has predicted that maize area will rise by 3.8% this season to 94m acres. Further discussions could see tariffs changed.
Native prices
Despite the drop in prices globally, Irish prices held. This week, Dairygold offered suppliers prices for harvest 2025 of €200/t for green barley, €212/t for green wheat and €465/t for green oilseed rape.
Spot prices of €230/t and €245/t were reported for dried barley and wheat respectively. Those are down since last week. Maize was coming into the country at €245/t, also down.
The Agriculture and Horticulture Development Board reported a spot price for feed barley into Belfast of £201/t on Friday 28 February. Spot wheat was at £217/t.
This is a subscriber-only article
SHARING OPTIONS: