International futures markets weakened over the past week as markets reacted to the potential consequences of changing US trade agreements. This is only one of the reasons for the decline, as fund activity and improving weather conditions in South America also impact.
Add to these a recent EU report which suggests relatively little frost damage to winter crops in the EU and the Ukraine. The fear of substantial frost damage had been a recent driver of price support, but now this may be reduced or removed. However, this point of view is not universal.
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Chicago soya bean futures prices also fell below $10/bushel following an improvement in weather in Argentina, where flooding was threatening production. Soya bean meal prices have fallen here as a consequence to €375/t ex-port.
Grain prices here also have a weaker tone and the market remains quiet for the moment. Currency is a significant factor in this regard, as euro value increases against the dollar. This is helping to make wheat look expensive relative to imported maize.
Native prices remain broadly similar, but the weaker market tone makes it more difficult to pick up a top of the range price. Spot wheat to the trade is now closer to €175/t, with barley around €162/t. May price remains in the €177 to €178/t bracket for wheat, with barley at €165 to €166/t.
November prices remain broadly similar at €170 to €171/t for wheat and €160 to €161/t for barley. But dry rape is down about €10/t to €390/t.
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International futures markets weakened over the past week as markets reacted to the potential consequences of changing US trade agreements. This is only one of the reasons for the decline, as fund activity and improving weather conditions in South America also impact.
Add to these a recent EU report which suggests relatively little frost damage to winter crops in the EU and the Ukraine. The fear of substantial frost damage had been a recent driver of price support, but now this may be reduced or removed. However, this point of view is not universal.
Chicago soya bean futures prices also fell below $10/bushel following an improvement in weather in Argentina, where flooding was threatening production. Soya bean meal prices have fallen here as a consequence to €375/t ex-port.
Grain prices here also have a weaker tone and the market remains quiet for the moment. Currency is a significant factor in this regard, as euro value increases against the dollar. This is helping to make wheat look expensive relative to imported maize.
Native prices remain broadly similar, but the weaker market tone makes it more difficult to pick up a top of the range price. Spot wheat to the trade is now closer to €175/t, with barley around €162/t. May price remains in the €177 to €178/t bracket for wheat, with barley at €165 to €166/t.
November prices remain broadly similar at €170 to €171/t for wheat and €160 to €161/t for barley. But dry rape is down about €10/t to €390/t.
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