International futures grain prices fell again last week, dropping below what many considered as the price floor for the past few weeks. Chicago December maize was down from $3.64/bushel last Tuesday week to $3.47/bu this Monday. Chicago wheat was down from $5.60/bu to $5.25/bu in the same period. LIFFE November feed wheat was down £3/t from Friday week to last Friday and the French MATIF wheat was down €2.5/t in the same period.
The major impact in international markets continues to be supply. Production estimates continue to increase as crops get closer to harvest and there is greater certainty about potential. But prices here are less affected because harvest selling pressure had pushed them below market value in recent weeks.
Spot wheat is somewhere in the €160 to €162/t bracket and barley remains around €155/t. But imported maize weakened in the past week and is now around €170/t ex port, with the same price for November and beyond.
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Interestingly imported wheat is priced at €2/t under barley at the moment in response to the dumping of failed milling wheat on the feed markets. November prices are slightly stronger, especially for wheat. November wheat is put in the €163 to €165/t range with barley around €155 to €157/t.
Soyabean meal prices have increased to €410/t on the spot market due to tight supplies in the short-term. Forward prices fall to just €398/t before Christmas, but buyers are holding off in the hope that larger US yields will also put downward pressure on prices. Rapeseed meal prices remain at €236/t and strengthen as we go into winter. Distillers at €206/t on the current spot market falls to €199/t making it better value than corn gluten or citrus pulp which is €206/t spot.
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International futures grain prices fell again last week, dropping below what many considered as the price floor for the past few weeks. Chicago December maize was down from $3.64/bushel last Tuesday week to $3.47/bu this Monday. Chicago wheat was down from $5.60/bu to $5.25/bu in the same period. LIFFE November feed wheat was down £3/t from Friday week to last Friday and the French MATIF wheat was down €2.5/t in the same period.
The major impact in international markets continues to be supply. Production estimates continue to increase as crops get closer to harvest and there is greater certainty about potential. But prices here are less affected because harvest selling pressure had pushed them below market value in recent weeks.
Spot wheat is somewhere in the €160 to €162/t bracket and barley remains around €155/t. But imported maize weakened in the past week and is now around €170/t ex port, with the same price for November and beyond.
Interestingly imported wheat is priced at €2/t under barley at the moment in response to the dumping of failed milling wheat on the feed markets. November prices are slightly stronger, especially for wheat. November wheat is put in the €163 to €165/t range with barley around €155 to €157/t.
Soyabean meal prices have increased to €410/t on the spot market due to tight supplies in the short-term. Forward prices fall to just €398/t before Christmas, but buyers are holding off in the hope that larger US yields will also put downward pressure on prices. Rapeseed meal prices remain at €236/t and strengthen as we go into winter. Distillers at €206/t on the current spot market falls to €199/t making it better value than corn gluten or citrus pulp which is €206/t spot.
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