Grain Trends: slight recovery in markets this week

Grain prices recovered somewhat this week. Talks about tariffs have been affecting markets, while production estimates are affecting prices.

The Matif or French wheat price for December closed last week at €229.75/t.

On Wednesday afternoon of this week, it was up significantly at €233.75/t. French maize prices were also up slightly, while oilseed rape was recovering as well.

The Agriculture and Horticulture Development Board (AHDB) in the UK reported lower export expectations in Russia, competitive US exports and reduced output in the EU as factors affecting wheat prices this week.

It also reported that Stratégie Grains reduced its EU forecast for soft wheat production for 2024/2025 by approximately 200,000t. Production for 2025 was forecast to increase from the estimated 113.5m tonnes in 2024/2025 to 127.5m tonnes in 2025.

Oilseed rape

The November oilseed rape price closed at €460/t last week. On Wednesday afternoon this week, it was at €472.50/t. That’s down significantly from its peak this year on 27 February when it hit €504.25/t.

Oilseed rape is being affected by Canadian markets. Agritel reported that Canadian canola prices dropped 18% over the past month.

However, there were reports of an increase in prices this week. Statistics Canada has estimated that the canola or rapeseed area will decline this season by 1.7%, while wheat area is estimated up 2.6%.

Green prices have dropped in Ireland with the downturn in markets.

Looking at soybeans, which also affect this market, a drop in Argentinian production is expected to be offset by Brazil’s increase in production.

Malting barley

Boortmalt offered suppliers a fixed price of €240/t on up to 40% of their tonnage last week.

Malting barley markets have fallen in recent days. Suggestions of tariffs on EU drinks by the US would not help markets.

The spot price for French malting barley dropped about €11/t over the last week. The Free On Board Creil price for Planet barley in October was reported at €227/t on 18 March.

Native prices

Spot wheat and barley prices were back slightly in the last week, with barley reported at approximately €230/t and wheat at €240/t.

November wheat was reported about €5/t above this price, while barley is €5/t below the current spot price.

Maize into the country is reported to have increased from €240/t to €245/t this week. Harvest offers for green grain remain steady this week at €195/t for barley and wheat was up slightly to €207/t. Oilseed rape is currently at €435/t.