Grain prices dropped last week across the US, UK and European markets.

They recovered somewhat this week, but continue to float in the same region as they have for the past few weeks.

Co-op prices are not expected until into October and merchants will likely follow.

Growers are being paid on account and should approach their merchant for an account price if funds are needed.

There was no news in the market to drive a jump in wheat or barley prices.

Trading was reported to be slow here in Ireland.

No doubt people are waiting to see whether markets will turn.

European maize and oilseed rape prices were slightly ahead, probably due to lower yield forecasts.

Rain helped US maize crops recently.

A total of 14% of maize crops were estimated to be harvested in the US as of 22 September.

EU report

The latest edition of the EU’s crop monitoring report - the MARS Bulletin - stated that very high temperatures and rain deficits have negatively affected crops in central and eastern Europe. The report said that yields were affected and grain filling was shortened.

Grain maize was one crop that saw a big decline in forecast production. The report placed grain maize yields down 3% since the August report and down 7% from the five-year average. The sunflower yield forecast was down 3% from the August report and down 8% from the five-year average.

Spring barley production was forecast down 1% from the August report, but up 8% on the five-year average. The bulletin noted that the full impacts of the storms and flooding in central Europe are hard to quantify.

Oilseed rape

Oilseed rape prices took a jump last week and early this week, but dropped back a little bit.

On Wednesday, the November French oilseed rape price was still well ahead of last Friday’s close of €462.75/t at €475/t.

Soybean planting is reported to be delayed in Brazil due to dry conditions. A reduction in production in the EU and Canada should help to support prices.

Native prices

Dried barley prices look to be at around €215 to €220/t and wheat at €225 to €230/t, but with little trading happening it is hard to give indications.

Maize is coming into the country at around €220/t. In Northern Ireland, the Agriculture and Horticulture Development Board indicated prices of £194/t (€231.89/t) for spot barley delivered into Belfast, down £3/t on the week, and £205/t (€245/t) for spot wheat delivered into Belfast, down £6/t on the week.