Grain prices were down slightly last week, but recovered somewhat this week.

For example, the Matif wheat price for December closed last Friday at €187.25/t, down €2.50/t in the week. This week, it was up and stood at €192.75/t on Wednesday afternoon.

The December 2026 price was at €205/t, steady on last week’s price.

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Corn also looked steady, while rapeseed was down slightly. The November 2026 price for French oilseed rape was at €465.50/t on Wednesday afternoon, down €2/t from Friday.

In the US, wheat prices were up slightly on last week, while corn was steady and soybeans were up slightly. In the UK, wheat prices were steady.

Outlook report

Teagasc has forecast no change to the price of wheat for the coming year, as large beginning stocks are expected to affect 2026 prices.

At the Teagasc Review and Outlook Conference this week, economist Fiona Thorne commented that there is much uncertainty about 2026 prices.

However, Teagasc also forecast a possible range of as low as €153/t and as high as €314/t.

Reasons for a price rise would be trend yield for EU wheat and barley, increased feed demand, uneven EU autumn rainfall levels and an active La Nina weather event.

Reasons for a decline would consider the international stocks-to-use ratio, stock accumulation risks and a possible Ukraine peace deal, but Teagasc expects prices to remain relatively unchanged in the year ahead.

Fiona also noted that direct costs are to increase slightly in 2026. The CBAM tax on fertiliser, which looks like it will be implemented, will add to this.

This will lead to an overall slight decrease in gross and net margins in 2026, bringing the average net margin on farms growing cereals, oilseeds and protein to €235/ha in 2026.

An estimated 70% of specialist tillage farms are expected to make a profit in 2026.

In 2025, incomes for spring barley, malting barley, spring and winter oats and spring wheat all declined, spring beans stayed the same, while winter barley, wheat and oilseed rape increased.

Given all this information, it is essential that farmers do the sums and calculate their costs if they are to make decisions on renting land or selling grain.

Northern Ireland prices

Looking at prices in Northern Ireland, the Agriculture and Horticulture Development Board reported spot prices of £197.50/t for feed barley and £200.50/t for feed wheat.

Forward prices for February were £3/t and £2/t ahead of this respectively. Brazilian soyameal was offered at £357/t.