Wheat prices in Europe took a drop last week and stayed in that position early this week. Matif wheat for March fell from €236.50/t to €232.25/t.

The December price fell similarly from €239.25 to €235.75/t. On Tuesday 21 November, that price closed at €235/t.

European maize prices stayed steady in the same time. The November 2024 price for Matif maize closed at €215/t for the past three weeks and €216/t the week before that.

Wet weather is preventing winter wheat planting in France, with about 71% planted by 13 November according to FranceAgriMer.

Tensions in the Black Sea and particularly at the port of Odesa have placed uncertainty on Ukrainian exports which had been moving well.

The Agriculture and Horticulture Board (AHDB) is bearish (or negative) on wheat, barley, maize, oilseed rape and soya bean prices for the next two to six months and neutral on prices for the next two weeks.

Oilseed rape

Last week, the French oilseed rape price moved up by over €5/t for nearby prices, while 2024 prices all moved up by approximately €3/t.

Matif oilseed rape price for August 2024 finished at €442.25/t last week.

However, this week oilseed rape prices moved down. Some support had probably been gained from a reduction in planted area.

Winter oilseed rape area is estimated to be down about 16% in the UK and 4% to 7% in Germany.

On Monday, those prices took a drop, probably following the trend in soya bean markets.

The August price moved back down to €438.25/t.

However, on Tuesday oilseed rape prices had recovered, with the August 2024 price closing at €445.50/t.

Soya beans

Looking at soya beans and rain has arrived in Argentina, which is reported to be increasing the crop’s area.

Dryness continues in the north of Brazil, but a record crop has been forecast and even with this weather, the crop is still expected to be over 160m tonnes.

Grain trading survey

The Irish Farmers Journal is currently undertaking a grain trading survey of farmers to learn more about how Irish farmers trade their produce and how much they are being paid. The more responses the better. You can take part by following this link.