Grain markets were slightly more positive last week, but took a turn down this week.

Matif wheat for December 2024 finished at €238.50/t last Friday, up €1.50/t on the week before.

On Wednesday afternoon 13 December, that price hadfallen to €236.50/t.

The French Ministry of Agriculture has estimated a significant decline in winter cereal acreage.

It put soft wheat area at 4.494m hectares, a decrease of 5.1%. Durum whet was placed at 205,000ha - that’s a decrease of 10.5%.

Winter barley was at an estimated 1.307m hectares, a decrease of 4%. Agreste estimated the autumn maize harvest at 12.8m tonnes - that’s up on last month’s estimate.

WASDE report

The United States Department of Agriculture released its World Agricultural Supply and Demand Estimates (WASDE) Report last week.

Its global wheat outlook was for higher supplies, consumption and trade with reduced stocks. Increased production in Australia and Canada had helped with supplies.

Global coarse grain production, which includes maize and barley, is forecast up 2.7m tonnes for 2023/2024 in the report.

Maize production was raised in the report due to increases in production in Russia, Ukraine, the EU and Egypt.

Soya

Soya prices have eased in recent weeks. Soya ex-port is now at about €570/t, down from a peak of €610/t two weeks ago.

Reports are still for big production in South America. However, drought is having an impact.

The WASDE report stated: “Soybean production is lowered 1.5m tonnes mainly on lower production for Brazil, reduced 2m tonnes to 161m, reflecting hot and dry conditions in southern Mato Grosso and northeast Brazil. Partly offsetting is higher soybean production for Canada and Russia.”

Oilseed rape

Matif oilseed rape prices have been fairly steady for the past few weeks, but did take a drop this week.

Matif oilseed rape price for November 2024 for example was at €450.75/t on Friday evening. On Wednesday afternoon, that had dropped to €443/t.

The WASDE report stated: “Global rapeseed production is raised 1.4m tonnes to 87m tonnes on higher production for Canada and Australia guided by recent government reports.”

Native prices

At home, wheat and barley prices for February have remained steady, if up slightly this week at about €228/t for barley and €237/t for wheat.