While grain prices are mostly decided by global supply and demand, the weekly data to be published regularly by the observatory reveals differences within Europe.

At €182/t, Ireland reported the second-highest feed wheat price in the EU after Portugal. The Irish price for feed barley was also among the top ones at €168/t, with only Spain, Portugal and Cyprus hitting the low to mid-170s.

There are limitations to the information supplied by the observatory at this early stage, as some countries are not yet reporting prices. Measuring also comes at slightly different points in the supply chain, with Irish prices reported delivered to the first customer, while key players such as France and Germany report prices for grain leaving the merchant or co-op’s storage.

Trade volumes

The observatory also publishes trade volumes and market updates from other parts of the world. Additional data includes regular weather updates with maps of extreme events and wheat precocity that could have an impact on the upcoming harvest across Europe.

“We can only take advantage of market opportunities if all the players have access to the right information at the right time. Information is power,” said European Commissioner for Agriculture Phil Hogan at the launch of the Crops Market Observatory this week.

The model follows that already in place for the milk, meat and sugar observatories, with information shared by 14 organisations representing farmers and grain traders and processors.

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