French wheat prices were relatively stable last week, while US prices declined. Meanwhile, oilseed rape prices increased.French prices fell further this week. On Friday, the French wheat price for December closed at €242.25/t and on Tuesday evening, it closed at €239.50/t.
French wheat prices were relatively stable last week, while US prices declined. Meanwhile, oilseed rape prices increased.
French prices fell further this week. On Friday, the French wheat price for December closed at €242.25/t and on Tuesday evening, it closed at €239.50/t.
UK wheat futures declined this week on news of improved weather in the US and Russia.
However, estimates of increased production may also have contributed to this fall.
The Agriculture and Horticulture Development Board (AHDB) reported that UK wheat production could rise from 11.1m tonnes in 2024 to 12.5m tonnes in 2025.
This is based on an early survey on area and the five-year average yield from 2020 to 2024 of 7.8t/ha. Some report that the survey has underestimated the area which would lead to increased production.
The International Grains Council has estimated that there will be an increase in wheat production and a higher maize and barley area in 2025/2026.
European report
The European Commission released its monthly crop monitoring in Europe report on Monday 24 February.
In that report, winter crops in the EU were reported to be in fair to good condition. It reported “irreversible losses to yield potentials” in some parts.
The report stated that heavy rainfall in northwestern France in January, along with high soil moisture levels and low temperatures, has created unfavourable weather conditions for crop development.
The report stated that “a distinct rainfall deficit is observed in much of central and eastern Europe”. Some of this area may need to be replanted.
The report also stated that a water deficit in Ukraine “has prevented any crop recovery from the poor conditions during emergence”.
A drop in temperatures to -20°C in February may bring substantial damage to winter crops in areas of central and eastern Europe, as there is little or no snow cover.
Oilseed rape
The November oilseed rape price climbed last week. On Friday, it was at €500.75/t, up €6.75/t on the week before.
On Tuesday evening, it closed at €499.50/t. There is reported to be strong demand at present.
The soybean harvest continues in Brazil and looks to be among records. This is something to keep an eye on, as soybean prices also influence the oilseed rape market.
Native prices
At home, dried spot wheat is reported to be trading over €250/t and barley is at €235/t. November barley is similar, while wheat is around €245/t.
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