Harvest has kicked off and at present grain prices are not looking very good given the spend on inputs this season has remained high, while grain prices have fallen.

This time last year the grain price had begun to fall somewhat from the highs of April, May and June. Spot wheat was at €355/t in the same week last year, down from €380/t the week before. This week spot wheat is at around €240/t.

Pressure is coming on prices as grain is being moved at harvest in the UK and parts of the continent.

This week saw prices move downwards, with a bounce on Wednesday. Matif French wheat for December finished at €238.25/t on Friday, 30 June. That was down €16/t over the week.

On Tuesday evening of this week, it had moved to €234.75/t and was looking positive on Wednesday afternoon at €238/t.

On a lighter note, the Tour de France started this week and checking in on the highlights is a great way to look at some crops over the next few weeks and harvest progress in France.

US crop areas

The US released its acreage report on Friday, 30 June. Corn or maize area was reported to be up 6%, soya beans down 5%, wheat up 9% and cotton down 19%.

That increase brings maize area to 94.1 million acres and is one to watch.

Maize condition improved slightly this week after rain hit some key producing states. 51% of crops were in good or excellent condition in the week ending 2 July.

This was up 1% on the previous week, but down 13% on the same time in the previous year. The increased area should help to offset some expected poor yields.

Oilseed rape

Oilseed rape prices increased significantly last week. The November price finished at €456.25/t on Friday evening, 30 June. That was an increase of €17.50/t over the week. That price was declining on Wednesday afternoon.

Oilseed rape production has been forecast down on previous reports in recent weeks. Stratégie Grains is reported to have put the EU-27 rapeseed crop at 19.8 million tonnes, down 600,000t from the previous month.

Native prices

Spot wheat is reported at around €240/t, while barley is at about €226/t. November prices for barley are at about €225/t and wheat is at about €245/t. New crop maize is at about €235/t.

The current Boortmalt harvest price stands at €260.83/t. That includes the €10/t deduction due to a drying charge. Last week’s contribution to the average was €284/t, a reduction of €6/t from the week previous.